It is estimated that the plan for the division of the Hellenic Aerospace Industry (HAI) and the privatization of the production department with the introduction of a strategic partner, Lockheed Martin, will be ready to be submitted to the authorities in early September.

The Minister of Development, Adonis Georgiadis, is responsible for the said privatization; however, the letter with all the details from the US side will also be submitted to the Ministers of Finance, Christos Staikouras, and of National Defence, Nikos Panagiotopoulos.

According to Kathimerini, during Prime Minister Kyriakos Mitsotakis’s visit to Washington last May, the contacts between the two sides focused on the division of HAI into two companies. 

The first, which will include fixed assets and infrastructure, will remain under the control of the State and the second will essentially be the company that will proceed with various projects, such as aircraft construction, repairs, and upgrades as well as engine maintenance.

Despite the initial discussions between the Greek government and Lockheed Martin, on whose behalf the HAI actually carries out almost 75% of its work (F-16, P-3, C-130 upgrade, parts of the F-16 global chain, and others) and the involvement of legal advisors and other experts, the optimal – both from a legal and technical perspective – method that will be used to proceed with the division of the company without disrupting its business operation is sought.

If the privatization proceeds smoothly, the HAI will turn into a hub of construction and repair involving aircraft such as the C-130, F-16, and other systems beyond the Hellenic Air Force (HAF) fleet. 

It could, in short, make the HAI a hub for an important regional market.

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