Airbus Group NV, aiming to pitch its C295 plane to the Indian Air Force, said it may set up a local assembly line for the military transport aircraft as it seeks to boost business outside the U.S. and Europe.
India scrapped a $753 million deal to buy helicopters from Anglo-Italian company AgustaWestland following a 15-month corruption investigation and said it’s preparing for an arbitration fight it is seeking to avoid.
India braced for the country’s strongest storm in 14 years to make landfall tomorrow after moving oil vessels out to sea, closing one of its biggest ports and deploying rescue teams to the eastern coastline.
Cyclone Phailin, the most powerful tropical storm India’s eastern coast has faced since 1999, made landfall as heavy rains and winds packing up to 210 kilometers an hour lashed the region, flooding roads and uprooting trees.
The Typhoon combat aircraft, already in service with the U.K. and German air forces, is in the running for an $11.5 billion contract from the Indian Air Force, the Sunday Telegraph said, citing an unidentified Indian official.
AgustaWestland, the world’s second- largest helicopter maker, said it will answer bribery allegations on a $753 million helicopter deal as India’s defense ministry sends a delegation of investigators to Italy.