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Aero Vodochody bags deal from EADS/Airbus
BY OUR AVIATION CORRESPONDENT
12th August 2005: Czech aircraft maker Aero Vodochody has bagged a deal to supply components from the European Aeronautic Defence & Space Co. and Airbus group, media reports said. Aero Vodochody would assemble components for Airbus A 320 and A 340 as part of the deal.
The components would be assembled at Aero Vodochody using German-made spare parts initially. But, as per the deal the production would also shift base to Czech Republic.
The exact value of the deal is not clear, but a company spokesperson said it would run into “hundreds of thousands of Euros”.
Aero Vodochody had been grappling for breathing space due to lack of contracts. The firm has a mountain of debts, estimated to be more than nine billion Koruna. The Czech government had started the process of selling the troubled aircraft maker in July this year.
Earlier, US aircraft maker Boeing had, in a symbolic gesture, agreed to give up its
35% share in the firm to the Czech government for just 3 koruna.
Aero Vodochody employs more than 1,600 people. The firm earned 295 million koruna last fiscal year.The contract would run throughout the year.
Aero Vodochody is known for its L-29 Delfin, L-39 Abatros and the L-159 Alca models.
The firm had bagged a contract from Boeing earlier this year for supplying 210 units of gun bay doors for its F/A-18E/F jet fighters. The gun bay units are to be supplied between 2006 and 2010. Boeing had given Aero Vodochody a similar contract in 2001. The pact was to supply 150 units of the gun bay doors.
The firm’s new owner would be chosen after two-round tender. State-owned Letka and government bail out group Czech Consolidation Agency own99.9 per cent of stake of Aero Vodochody.
The Consolidation Agency would first buy out Letka’s stake and then organize stake sale, as per Czech government plans.
BY OUR AVIATION CORRESPONDENT
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