// 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
"The necessary funds are and will continue being allocated, including those for the purchase of new modern weapons," he said.
Russian President Vladimir Putin made a surprise visit to Syria after a busy weekend that dealt with several regional issues.
Cemil Aksu was arrested on October 25 in the city of Artvin for allegedly “praising crime and criminals” in his social media posts.
The work is taking place two days after a magnitude-7.3 earthquake struck Sunday night Iran time, just as people were going to bed.
Partner news