New details on Kaman financial settlement with Australia
Australia’s Defence Materiel Organisation (DMO) has confirmed that the financial settlement with Kaman Aerospace allowing for transfer of the Royal Australian Navy’s eleven aircraft SH-2G(A) Super Seasprite project back to the company was based on a bank guarantee rather than a cash payment.
The bank guarantee, worth A$39.5 million, was lodged on 12 February this year.
The DMO’s head of helicopter programmes Major General Tony Fraser says “what we negotiated between Kaman and ourselves was that Kaman would take ownership of the aircraft and equipment to try and resell them and provide us with some funding back. That was subject
Already have an account? Log in
Want to keep reading this article?
You may also like
More from Defence Helicopter
-
![Germany to send WS-61 Westland Sea King helicopters to Ukraine]()
Germany to send WS-61 Westland Sea King helicopters to Ukraine
Germany has committed to sending Ukraine six of its 21 retiring WS-61 Westland Sea King multirole, amphibious helicopters.
-
![Boeing secures $271 million to advance modernisation of US Special Operations' MH-47G Chinook]()
Boeing secures $271 million to advance modernisation of US Special Operations' MH-47G Chinook
Boeing has clinched a major contract modification to further its backing of the US Special Operations Command’s MH-47G Chinook aircraft modernisation effort.
-
![Dubai Airshow 2023: South Korean homegrown helicopters make international debut]()
Dubai Airshow 2023: South Korean homegrown helicopters make international debut
Two KAI helicopters, the KUH-1E utility helicopter and the Light Attack Helicopter (LAH), have taken centre stage at the Dubai Airshow 2023.
-
![Italian Navy receives final NH90 helicopter]()
Italian Navy receives final NH90 helicopter
The Italian Navy now boasts a fleet of 56 NH90 helicopters comprising 46 SH-90As and 10 MH-90As.
-
![Argentina seeks AW109 and CH-46 Sea Knight helicopters]()
Argentina seeks AW109 and CH-46 Sea Knight helicopters
The Argentinian Air Force (FAA) and the Argentinian Naval Aviation Command (COAN) are looking for options to upgrade their helicopter fleets.
-
![DSEI 2023: Lockheed to produce about 40% of Black Hawks on UK soil if it wins NMH contest]()
DSEI 2023: Lockheed to produce about 40% of Black Hawks on UK soil if it wins NMH contest
Lockheed Martin promises a boost to the British job market and export opportunities, while strengthening ties with Poland and positioning the UK for a future in rotorcraft technology in the event of a New Medium Helicopter competition triumph.
