Portugal signs €590 million aircraft deal with Greece

Portugal and Greece have signed an agreement for the sale of three KC-390 aircraft to Greece, generating a return of €33 million for Portugal.

By Sidsel Senius , in News · 02 Nov 2026, 20:03 · 0 Comments

Greece will pay approximately €590 million for the three KC-390s, along with equipment and services, with a projected return of €11 million per aircraft for Portugal, SIC Notícias reports.

The Minister of Defence, Nuno Melo, said this amount will be channelled back into Portugal’s national industry.

The financial return for Portugal results from Portuguese participation in the development and production of the KC-390 and in the adaptation and certification of the aircraft to NATO requirements, which allows its commercialisation to other allied countries, SIC Notícias reports. The first aircraft will be delivered in 2027, with “subsequent phased deliveries” in 2029 and 2031.

Aircraft agreement

In September 2025, Portugal and the Brazilian manufacturer Embraer signed an addendum to the KC-390 aircraft acquisition contract, which established an option to acquire up to ten additional units, intended for sale to allied countries. At the time, Nuno Melo estimated a profit of approximately €11.3 million for each aircraft sold.

The KC-390 is a multi-purpose military transport aircraft, with capabilities ranging from fighting forest fires to conducting search and rescue operations, medical evacuations, and humanitarian aid missions.

In addition to the three aircraft, the contract includes mission equipment, entry-into-service support, and assistance to the Greek Air Force.

According to an official source, Portugal will be responsible for overseeing production, monitoring the acceptance and delivery processes of the aircraft, the operational transition, and the initial training of Greek crews and mechanics, which will take place at the Beja Air Base.

Financial details

In a Council of Ministers resolution published on 22 October, the Portuguese Government authorised spending of €589.98 million, plus VAT, between 2026 and 2031, fully funded by revenue from the contract with Athens.

Of this amount, approximately €532.9 million will be allocated to the purchase of the aircraft and a “logistical support package for entry into service,” while the remaining €57.1 million will cover electronic warfare equipment (EW Suite), training, logistical support, the maintenance of technical support teams in Greece, programme management and related activities.

The Greek Minister of Defence, Nikos Dendias, visited Portugal in May 2026, where he met with Nuno Melo to discuss “closer cooperation” between the two countries, as well as the contract signed on Monday.

According to the Portuguese government, the document transforms the bilateral Defence Cooperation Agreement, which has been in force since April 2025, into a “long-term operational partnership.”