Dec 21, 2020

Elbit Systems to establish flight training centre in Kalamata

According to Kathimerini, Greece and Israel have reached an agreement for establishing a new international flight training centre in Kalamata, Greece. The agreement was reached after five months of negotiations when the Greek government chose the proposal of Israel’s Elbit Systems. The contract is worth € 1.3 bln and will be carried out over 22 years.

Athens, Greece: 22 December 2020

According to the press release issued by ISRAELDEFENCE, Elbit Systems were chosen by Greece for several reasons:

It is expected the agreement will strengthen the strategic collaboration between the Hellenic Air Force and the Israeli Air Force;
The Israeli proposal was the most economically competitive as well as being guaranteed by the Israeli Ministry of Defense and by Elbit Systems.

Elbit Systems currently manages the Israeli Air Force flight training centres.

Ptisi & Diastima, a Greek-based magazine in one of its recent articles stated that:

The contract involves construction of an international training flight center in Kalamata with financial lease. Essentially, it will be possible for airlines from other parts of the wider geographical area to be trained in Greece. Such a training center will also compete with Italy, where such services are already offered, such as at the Lecce Air Training Center.

According to Kathimerini, Athens attaches great importance to the agreement as it expands the strategic relationship with Israel, but also because it provides a solution to the problem of training Hellenic Air Force pilots.

Navigator Consulting supports investments in Greece and Cyprus, and has extensive experience in due diligence, financial forecasting, business planning and risk analysis.

For further information, please contact:

Philip Ammerman

Managing Director

info@navigator-consulting.com

Sources:

Greece, Israel agree on flight training center at Kalamata

Ekathimerini.com. 22 December 2020

Israel, Greece in Talks to Establish €1.4B Pilot Training School

DefenseWorld.net. 22 June 2020

Elbit planning to set up flight training school for Greek Air Force

ISRAELDEFENSE. 29 December 2020

Next e.GO announces plan to invest in electric car factory in Greece