// 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
Ccampaign staffers have been discussing the legality of accepting donations from foreign governments, such as Azerbaijan.
Residents in Aleppo have said many won't go since there are no guarantees that the evacuees won't be arrested by government forces.
The spokeswoman for Kardashian West said the reality TV star was "badly shaken but physically unharmed" after being held up at gunpoint.
Michael Carpenter “hailed the level of cooperation in defense sector between Azerbaijan and the United States,” Azeri media reported.
Partner news