// IP Marketing video - START// IP Marketing video - END

BAE Systems agrees Eurofighter pricing with Saudi Arabia

BAE Systems agrees Eurofighter pricing with Saudi Arabia

PanARMENIAN.Net - Defense group BAE Systems has agreed Wednesday, Feb 19, the pricing with Saudi Arabia over the rising cost of a long-running Eurofighter Typhoon jet deal, BBC News reports.

Saudi ordered 72 Eurofighters in 2007 for £4.5bn, but the contract faced obstacles over escalating costs.

BAE said the new deal was an "equitable outcome" for both sides, although full details were not disclosed.

BAE warned last year that failure to agree a deal could hit earnings. Its shares rose 3% on Wednesday's news.

The new deal was negotiated mainly between the Saudi and UK governments. Now that this contract, known as the Salam program, has been secured, talks are expected to begin with the Saudis about buying dozens more Eurofighters.

BAE builds the fighter jet with European aerospace group Airbus and Italian defense contractor Finmeccanica.

BAE is due to publish latest profits figures on Thursday.

Related links:
 Top stories
Syria's government and President Bashar al-Assad have rejected similar reports in the past of torture and extrajudicial killings.
Potential opponents are yet to rule out contesting her for the ballot but party sources say a Berejiklian victory is likely.
The report by Intcen, the EU intelligence centre, concluded that the coup was mounted by a range of opponents to Erdogan and his ruling AK Party.
The main part of the donation is for six surplus MiG-29 'Fulcrum' fighter aircraft, a long-standing requirement for the Serbian Air Force.
Partner news