He added: "We have fundamentally changed our methods of doing business, but this episode will remain a salutary example to us all.
"I am sure that given the problems that existed with this contract, the decision to convert these eight aircraft to a support helicopter role was the right one."
He said the conversion of the Mark 3s could see the Chinook fleet in Afghanistan increase 25% by 2010, two years earlier than expected.
The MoD also highlighted a 60% increase in helicopter numbers and flying hours in Afghanistan over the last two years.
The committee also reported that the addition of "bolt-on" night vision equipment to Mark 2 Chinooks had been linked to two crashes.
The package was fitted to the Mark 2s to compensate for the grounded Mark 3s.
MPs criticise Chinook delay
An earlier National Audit Office report said the "bolt-on" night vision enhancement could reduce pilots' normal visibility.
The committee said the MoD "should examine whether its acceptance of the risks associated with short-term fixes like the night enhancement package is consistent with the priority accorded to identifying funding for long-term solutions, the duty of care it has to personnel and the principles underpinning its approach to airworthiness."
The MoD played down the significance of the crashes, likening them to "bending the fender on the car when you parked it".
The MPs' report also disclosed that Chinooks were now being used for basic pilot training because flight simulators had not been modified.
Chinooks move troops, artillery, ammunition and other supplies on a battlefield
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