Embraer Defense & Security and Mahindra announced today that they have signed a Memorandum of Understanding (MoU) with the objective of jointly fulfilling the acquisition of the C-390 Millennium multi-mission aircraft by the Indian Air Force in its upcoming Medium Transport Aircraft (MTA) procurement project. The MoU was signed at the Embassy of Brazil in New Delhi.
"We are honored to announce this MoU with Mahindra. India has a diverse and strong defense and aerospace industry and we have chosen Mahindra as our partner to jointly pursue the MTA program" said Mr Bosco da Costa Junior, President & CEO, Embraer Defense & Security.
"India is a key market for Embraer and we fully support India's ambitions for 'Atmanirbhar Bharat'. We see this partnership as a symbol of strengthening relations between Brazil and India and a way to foster Global South cooperation."
Embraer and Mahindra will engage with the Indian Air Force to identify the next steps of the MTA program, as well as contact the local aerospace industry in India to start developing the industrialization plan for the project.
Mr Vinod Sahay, President Aerospace & Defence Sector and Member of Group Executive Board, Mahindra said, "We are proud to start this partnership with Embraer, a company that is known for its engineering excellence and a unique portfolio of aircraft and systems. The C-390 Millennium is the most advanced military airlifter in the market, and we believe that this partnership will not only bolster the operational prowess of the Indian Air Force, but also provide an efficient industrialization solution that aligns seamlessly with the objectives of Make in India."
The MoU was signed by Embraer Defense & Security and Mahindra Defence Systems, a 100% owned subsidiary of Mahindra, that focuses on armored transport and security-related products including electronics.
Embraer has an established presence in India across the fields of defense, commercial aviation and executive aviation. In August 2023, Embraer held a C-390 Millennium Day in New Delhi, India to deepen engagement with the local aerospace industry which was very well attended by the Indian ecosystem.
The C-390 Millennium multi-mission tactical transport aircraft offers unmatched mobility, combining high productivity and operating flexibility with low operating costs, which is an unbeatable combination.
Since entering operation with the Brazilian Air Force in 2019 and most recently with the Portuguese Air Force in 2023, the C-390 has proven its capacity, reliability, and performance. The current fleet of aircraft in operation has accumulated more than 11500 flight hours, with operational availability of around 80% and mission completion rates above 99%, demonstrating exceptional productivity in the category. The C-390 Millennium attained its Full Operational Capability status by the Brazilian Air Force in 2023, which endorses the platform's capability to carry out all missions it was designed to undertake.
To date, the C-390 Millennium has been selected by Brazil, Portugal, Hungary, the Netherlands, Austria, the Czech Republic and most recently, South Korea.
The C-390, the most modern military transport aircraft in the market, can carry more payload (26 tonne) compared to other medium-sized military transport aircraft and flies 870 km/h (470 knot). It is capable of performing a wide range of missions such as transporting and dropping cargo and troops, medical evacuation, search and rescue, aerial firefighting, and humanitarian missions, operating on temporary or unpaved runways such as packed earth, soil, and gravel. The aircraft configured with air-to-air refueling equipment, with the designation KC-390, has already proven its aerial refueling capacity both as a tanker and as a receiver, in this case by receiving fuel from another KC-390 using pods installed under the wings.
The collaboration around the C-390 Millennium will bring the latest technology in terms of aerospace & military transport aircraft to India. Both Embraer and Mahindra will explore the potential to turn India into a future hub of the C-390 aircraft for the region.
Shares of Mahindra & Mahindra Limited was last trading in BSE at Rs. 1646.85 as compared to the previous close of Rs. 1687.40. The total number of shares traded during the day was 123311 in over 10217 trades.
The stock hit an intraday high of Rs. 1694.95 and intraday low of 1628.10. The net turnover during the day was Rs. 203428945.00. |
