Israel gets $932 Million Early Warning Aircraft Deal From Italy as Offsets

Israel and Italy signed a $750 million agreement to provide the Italian Air Force with two Gulfstream G550 airborne early warning aircraft. The deal is an offset for the Israeli Air Force buying 30 advanced Alenia Aermacchi M-346 trainers. As part of the agreement Israel Aerospace Industries will manufacture and supply to the Italian Air Force two G-550 Conformal Airborne Early Warning & Control Systems (CAEW), Ground Support Systems and logistical support package. The IAI will supply observation satellite to the Italian company with an additional of $182 million contract deal which adds up to a total deal of $932 million. Joseph Weiss, IAI's President & CEO, said "Italy is an important European country and we are proud of strengthening our relationship with it. The Airborne Early Warning aircraft and the observation satellite are two of IAI's strategic products. Beyond the financial and occupational aspects, this deal represents a significant collaboration with the European industry".