New Delhi, Oct. 3 -- The Indian Air Force is hopeful of signing the long-pending Multi-Role Fighter Aircraft (MRFA) contract during the current financial year, Air Chief Marshal A.P. Singh said today, even as he acknowledged that the declining strength of the fighter fleet remained a concern for the force.

"If things go well, MRFA, we should be able to sign this financially. That's what my hope is," Singh said while addressing a press conference ahead of the 94th Air Force Day.

The Air Chief said negotiations on the MRFA programme were progressing, with the proposed acquisition of 114 fighter aircraft expected to augment the IAF's combat fleet.

The MRFA programme is part of the IAF's efforts to arrest the decline in its fighter squadron ...