Boeing Beats Russia for Indian Helicopter Contract

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On Monday, Boeing (NYSE: BA  ) extended an impressive string of victories in competitions to upgrade the Indian military, winning a $1.4 billion contract to supply 15 CH-47F Chinook helicopters to the Asian nation.

In so doing, Boeing beat out a competing bid by Russia's OboronProm  (literally "Defense Industry") to sell the Indians new Mi-26 transport helicopters, according to a report in Defense News. India had invited bids from both companies to replace the country's existing fleet of two dozen, mostly inoperable Mi-26 choppers.

The news follows up October's report that Boeing will sell India 22 AH-64D Apache attack helicopters, in a deal valued at $1.3 billion. Prior to that deal, the company had also signed on to provide the Indian military with 10 C-17 Globemaster III transportation aircraft. And before that, Boeing won a $2.1 billion deal to supply P-8I subhunting aircraft.

As for this latest contract, Boeing is expected to sign a contract with India's Ministry of Defense in March, with delivery of the 15 transport helicopters to be completed within 54 months thereafter.


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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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11/30/2015 4:00 PM
BA $145.45 Down -1.50 -1.02%
The Boeing Company CAPS Rating: ****