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Read my this post - Also, AWACS + Refueller is a bad idea. You cannot just shove a big watermelon on top and make it carry fuel tanks as well. The drag of the top radar already affects flight performance, and extra heavy load carrying will just decrease the lifetime of the airframe and provide...

Leasing is generally not a good long-term solution, but for the case of India, it is an excellent option currently, better than buying. Why? We are immediately getting 6 platforms (within 6 months I presume) which is excellent, and given the two-front war may not be a distant illusion anymore...