(LibyaNN)- Israeli Defense Minister Benny Gantz on Tuesday hailed a $1.68 billion agreement with Greece as a reflection of “excellent and developing relations” between the two countries.
“It is a long-term partnership that will serve the interests of both Israel and Greece", said Gantz said in comments reported by the Israeli Defense Ministry.
Adding "It will create jobs in both countries” Gantz said.
The agreement includes the establishment and operation of a flight school for the Hellenic Air Force by Elbit Systems.
It also includes the maintenance of T-6 aircraft (Efroni), as well as the provision of simulators, training and logistics support.
The deal will span more than 20 years, the Defense Ministry said.
In the near future, SIBAT, the Directorate for International Defense Cooperation in the Israel Ministry of Defense, and Elbit Systems will sign the agreement to establish the Greek flight school.
Modeled after the Israel Air Force (IAF) flight academy, the Greek school will be equipped with 10 M-346 training aircraft produced by Italian company, Leonardo.
Otherwise known as “Lavi,” these aircraft are also employed in the Israeli flight school and are considered very successful.
Within the framework of the agreement, Elbit Systems will provide kits to upgrade and operate the Hellenic Air Force’s T-6 aircraft.
Elbit will also provide training, simulators and logistical support.
In the future, the parties will also consider areas of cooperation between the Israeli and Greek flight academies.