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Saturday, January 11, 2014

VVIP chopper deal: India seeks to recover $367 million from AgustaWestland

AW101Italian defence giant Finmeccanica's troubles in India are deepening, with the New Delhi government seeking repayments worth some 270 million euros over a scrapped helicopter deal.

The government's demand threatens to complicate efforts by AgustaWestland, a division of cash-strapped Finmeccanica, to mend fences with India, the world's biggest arms buyer.

India last week cancelled a 560-million-euro deal with AgustaWestland for 12 AW101 helicopters over what it termed a breach of integrity relating to alleged corruption.

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