Aviation

Switzerland signs deal to buy 36 F-35A fighter jets from US

The F/A-18 Hornets and F-5 Tigers that are now in service will be replaced by the new aircraft, which will be delivered between 2027 and 2030.

Air2030: Procurement contract signed for the F-35A

On September 19, 2022, at armasuisse in Bern, the National Armaments Director Martin Sonderegger and the Swiss F-35A Program Manager Darko Savic signed the purchase agreement. With this, a contract is established for the purchase of 36 F-35A aircraft. The F/A-18 Hornets and F-5 Tigers that are now in service will be replaced by the new aircraft, which will be delivered between 2027 and 2030.

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The purchase of 36 F-35As will cost a total of 6,035 billion Swiss francs, which is within the permitted financial volume set by the Swiss electorate. The contract has been signed by the National Armaments Director Martin Sonderegger and the Program Manager for the purchase of the new combat aircraft, Darko Savic.

The F-35A’s purchase costs also include specialized mission equipment, weaponry, and ammunition, as well as a logistics package, mission planning systems, training systems, and basic training. Additionally, the price for the integration into the Swiss command and control system, for industry-specific support services, a risk amount, the inflation rate in the USA, the country of manufacture, as well as the VAT on imports are also included.

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Switzerland is purchasing the aircraft from the US government through “Foreign Military Sales” (FMS), and under the same terms that Switzerland applies to itself. The US government then conducts the acquisition through its own contract with the manufacturer Lockheed Martin, which is clearly apparent to the DDPS. This contract contains legally enforceable definitions of the prices and contractual terms, which are also strictly enforced.

Offset agreement concluded in parallel to the procurement contract

The offset contract with Lockheed Martin was also signed by Peter Winter, the director of Program Air2030, and Darko Savic, the program manager for the F-35. The US company can now conduct offset transactions with the Swiss industry on the strength of this. This results in contracts for Swiss businesses with a total value of about 2.9 billion Swiss Francs.

https://jetlinemarvel.net/web-stories/switzerland-signs-deal-to-buy-36-f-35a/

Aviation

No More Jet Airways. Supreme Court Says “No Choice”, Orders Liquidation

Jet Airways was once one of India’s leading airlines, known for its service and extensive network. Founded in 1993, it served millions of passengers, connecting cities across India and international destinations.

However, since grounding its flights in April 2019, Jet Airways has struggled to navigate financial turbulence, leading to years of efforts to revive the airline and return it to the skies.

On Thursday, the Supreme Court ordered the liquidation of Jet Airways, citing “no choice” but to take this decisive step after the resolution plan failed to meet creditor obligations. The court invoked its extraordinary powers under Article 142, which allows it to make orders for “complete justice” in any case, overriding previous tribunal rulings.

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The Jalan-Kalrock Consortium (JKC), which had won the bid to revive Jet, faced criticism for not fulfilling payment commitments to creditors, which included major banks like the State Bank of India and Punjab National Bank.

The Supreme Court’s ruling pointed to “peculiar and alarming” issues surrounding the resolution plan’s implementation, leading to its conclusion that liquidation was the only feasible outcome.

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Chief Justice DY Chandrachud, alongside Justices JB Pardiwala and Manoj Misra, emphasized that while liquidation should be a last resort, it was necessary as the resolution plan was “no longer capable of implementation.”

In line with this decision, the court ordered that the ₹200 crore already infused by JKC be forfeited and directed the National Company Law Appellate Tribunal (NCLAT) in Mumbai to appoint a liquidator to oversee the process.

JKC, a partnership between Murari Jalan, a UAE-based Indian entrepreneur, and Florian Fritsch, a Jet shareholder through Kalrock Capital Partners Limited, had taken ownership of Jet Airways two years after it was grounded. The consortium’s inability to fulfill its financial obligations has now led to this final verdict, marking the end of an era for Jet Airways in India.