IAF to buy Rs 6800 crore of trainer aircrafts from HAL

21 Oct 2022 , 01:36 PM

Hindustan Aeronautics Limited and Indian Airforce have signed the contract for 70 HTT-40 indigenous trainer aircraft worth Rs 6,800 crore. During the Bandhan ceremony at the 12th DefExpo, in all, 451 Memorandums of Understanding (MoU) and Transfer of Technology (ToT) agreements were signed.

The Defence Acquisition Council (DAC) authorized the acquisition of 106 HTT-40 for the IAF in August 2020, with 70 BTA first procured from the HAL and the rest 36 when the HTT-40 fleet is operationalized in the IAF.

HAL received the IAF’s Request For Proposal for HTT-40 for 70 aircraft with an extra provision for 38 more in February 2021 at Aero India. HAL’s two manufacturing plants in Bengaluru and Nasik will handle production.

At around Hindustan Aeronautics was trading at Rs2,399.05 per piece, down by 2.03% from its previous closing of Rs2,448.75 on the BSE. The scrip touched intraday high and low of Rs2,491 and Rs2,397.45 respectively.

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