The 266 has a two part ignition system, on the right hand side of the flywheel is a bog standard coil, these rarley go wrong, on the left hand side of the flywheel is an electronic pick up box, this is more likley to be the part that has failed, the air gap shoud be 0.3mm. the system works off speed of rotation so you do need to crank it over quite fast to check for a spark, check the connection under the small screw between the pick up box and the coil as this sime times corrodes, failing that you need to replace the pick up box, there are two types 501516101 goes with orange metal ignition switch, and 501516102 goes with red plastic ignition switch, with the vat they retail around £90-00 check on E Bay there may be some after market parts available. The coil is pt no. 501516201
Husqvarna man
February 2010