Kaman must be laughing all the way to the bank. They keep and sell the aircraft, keep half the sale figure, and the Australian taxpayers just cop the loss
ABC News:
Govt to receive $40m for scrapped Seasprites
The Federal Government says it will receive just under $40 million as part of the agreement to scrap the Seasprites helicopter project.
The Government announced earlier this month it was scrapping the $1.3 billion contract because of safety concerns.
Defence Minister Joel Fitzgibbon says the Government has now agreed on the terms of the cancellation with the contractor Kaman.
The helicopters, training equipment and other spare parts will be sold, and the Government will receive a guaranteed financial return of just under $40 million