Jan 6, 2015

Israel Angles to Extend US Offer for V-22s

Israel has asked Washington to preserve cut-rate costs and generous terms of a proposed package of up to six V-22 tilt-rotor aircraft pending an ongoing reassessment of procurement priorities driven by last summer's Gaza war.
Proposed prices, delivery schedules and deferred payment allowances guaranteed in a Pentagon-crafted letter of offer and acceptance (LOA) expired Dec. 10.
Israel didn't sign the LOA, but now wants to freeze its terms, which reduced the estimated $1.3 billion package by nearly half, expedited deliveries and allowed deferred payment through low-interest commercial loans essentially secured by the promise of future-year military aid.

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