Local aircraft designer and manufacturer Aerospace Industrial Development Corp (AIDC, 漢翔航空工業) on Tuesday signed an agreement with Martin-Baker Aircraft Co to purchase ejection seat systems.
The British firm’s ejection seats are to be used in AIDC’s advanced jet trainer (AJT) that it is building for the air force, the company said.
AIDC chairman Anson Liao (廖榮鑫), who led a delegation to London to ink the accord, said in a statement that the agreement was a milestone for Taiwan’s national defense supply chain.
The Ministry of National Defense has commissioned AIDC and its supply chain to design and manufacture 66 advanced jet trainers, with the first prototype scheduled to be completed in 2019 and flight tests expected to start in 2020.
The 66 aircraft are scheduled to be delivered by 2026 and are to replace the military’s AT-3 trainer aircraft and F-5 jets, which are more than 30 years old.
“The contract between AIDC and Martin-Baker facilitates cooperation opportunities and is a major milestone in the launch of AJT systems,” AIDC said in the statement.
“Both parties will work together, not only to achieve the goal of making the AJT program successful, but also to extend future collaboration in areas such as ejection seats, pilot personal equipment, parachutes” and other equipment, the firm said.
The firms did not disclose financial terms for the agreement.
Representative to the UK David Lin (林永樂), who witnessed the signing of the agreement, said Taiwan values exchanges between Taiwanese and British enterprises, and Martin-Baker’s support for the nation’s advanced jet trainer development is appreciated.
Through the agreement, Taiwan and the UK will strengthen cooperation in aviation development to create a safer environment, he said.
The agreement would further integrate AIDC’s supply chain, which would help it deliver the 66 trainers on schedule, Liao said.
“We also expect to provide a chance to foster talent in the aerospace industry and strengthen the links between industries in Taiwan, which can lend great support to the development of AJTs and next-generation fighters,” Liao said.
AIDC shares yesterday rose 2.3 percent to close at NT$37.75 in Taipei trading, outperforming the TAIEX, which ended up 0.26 percent.
NOT JUSTIFIED: The bank’s governor said there would only be a rate cut if inflation falls below 1.5% and economic conditions deteriorate, which have not been detected The central bank yesterday kept its key interest rates unchanged for a fifth consecutive quarter, aligning with market expectations, while slightly lowering its inflation outlook amid signs of cooling price pressures. The move came after the US Federal Reserve held rates steady overnight, despite pressure from US President Donald Trump to cut borrowing costs. Central bank board members unanimously voted to maintain the discount rate at 2 percent, the secured loan rate at 2.375 percent and the overnight lending rate at 4.25 percent. “We consider the policy decision appropriate, although it suggests tightening leaning after factoring in slackening inflation and stable GDP growth,”
DIVIDED VIEWS: Although the Fed agreed on holding rates steady, some officials see no rate cuts for this year, while 10 policymakers foresee two or more cuts There are a lot of unknowns about the outlook for the economy and interest rates, but US Federal Reserve Chair Jerome Powell signaled at least one thing seems certain: Higher prices are coming. Fed policymakers voted unanimously to hold interest rates steady at a range of 4.25 percent to 4.50 percent for a fourth straight meeting on Wednesday, as they await clarity on whether tariffs would leave a one-time or more lasting mark on inflation. Powell said it is still unclear how much of the bill would fall on the shoulders of consumers, but he expects to learn more about tariffs
Greek tourism student Katerina quit within a month of starting work at a five-star hotel in Halkidiki, one of the country’s top destinations, because she said conditions were so dire. Beyond the bad pay, the 22-year-old said that her working and living conditions were “miserable and unacceptable.” Millions holiday in Greece every year, but its vital tourism industry is finding it harder and harder to recruit Greeks to look after them. “I was asked to work in any department of the hotel where there was a need, from service to cleaning,” said Katerina, a tourism and marketing student, who would
i Gasoline and diesel prices at fuel stations are this week to rise NT$0.1 per liter, as tensions in the Middle East pushed crude oil prices higher last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday. International crude oil prices last week rose for the third consecutive week due to an escalating conflict between Israel and Iran, as the market is concerned that the situation in the Middle East might affect crude oil supply, CPC and Formosa said in separate statements. Front-month Brent crude oil futures — the international oil benchmark — rose 3.75 percent to settle at US$77.01