At 3 p.m., Hindustan Aeronautics shares rose more than 3 percent to Rs 1,104 on the BSE
Hindustan Aeronautics has placed an order of Rs 5,375 crore with GE Aviation, USA for the supply of 99 F404-GE-IN20 engines and ancillary services to power its Tejas Light Combat Aircraft. The contract has been signed with HAL Corporate Office, the company reports in a press release.
“This is the largest deal ever and the purchase order placed by HAL (Hindustan Aeronautics) for LCA (Light Combat Aircraft),” said R Madhavan, CMD, HAL. The company is working closely with GE for its support to pursue LCA’s export potential and also to supply spare parts to the global supply chain of GE 404 engines, he added.
Since its maiden flight in January 2001, the Tejas LCA has been powered by a single General Electric (GE) F404-IN20 engine.
“The F404 engine family has proven itself in operations around the world and we are committed to providing all 99 engines and support services by 2029,” said Chris Cyr, Vice President of GE Aviation.
The Tejas aircraft, which was built domestically, is among the best fighter aircraft in its class worldwide.
At 3 p.m., shares of Hindustan Aeronautics were up more than 3 percent to Rs 1,104 on the BSE, against a 0.4 percent drop in benchmark indices.
