2nd Feb 2016 11:13
LONDON (Alliance News) - Defence outsourcer and engineering services company Babcock International Group PLC on Tuesday said its Ascent joint venture has secured a GBP1.1 billion contract to handle the fixed wing element of the UK Military Flying Training System.
Ascent, a joint venture between Babcock and US defence contractor Lockheed Martin Corp, will handle the delivery of the training contract through to 2033, in partnership with the UK's Ministry of Defence.
The aircrew training will take place at several military sites and will comprise the deliver of three types of aircraft, along with instructional, infrastructure and support services through to 2033.
"Fixed wing training is an important part of the 25-year UKMFTS programme. Today's announcement secures the future of fixed wing flight training for the UK's Armed Forces," said Babcock Chief Executive Peter Rogers.
Babcock shares were down 0.5% to 904.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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