Saudi-UK Military Jet Accord Soon
RIYADH, Saudi Arabia,
Dec. 21--Saudi Arabia expects to conclude a deal with Britain for military aircraft soon, the kingdom’s defense minister said in remarks published on Wednesday.
Prince Sultan bin Abdul-Aziz, in comments reported by the state-run Saudi Press Agency, would not disclose details, Reuters reported.
But he told reporters after talks with visiting British Defense Minister John Reid: “God willing, we hope to conclude in the near future a deal for modern planes with Britain.“ Sources close to the negotiations have said the deal was likely to involve Saudi Arabia buying at least 48 Eurofighter Typhoon jets, with an option to raise that to 72. The sources did not give a value for the potential deal.
A senior source close to the deal told Reuters an accord might be signed later in the day after Reid meets Saudi King Abdullah.
The Eurofighter consortium includes BAE Systems, EADS and Italy’s Finmeccanica.
Officials at BAE in Riyadh and London declined immediate comment.
A spokeswoman for Britain’s Ministry of Defense would say only that “negotiations are continuing.“
Saudi sources said the kingdom was also considering buying Rafale jets from France’s Dassault Aviation.
Eurofighter sold to Saudi Arabia
The Eurofighter has taken more than 20 years to design and build
Shares in BAE Systems have risen over 6% in value after the UK government agreed to supply Saudi Arabia with the new Eurofighter.
This is the first contract for the jet outside Europe and will safeguard thousands of UK jobs.
The Eurofighter has been developed by a consortium of firms in the UK, Germany, Spain and Italy.
It is competing for market share against two rival jets, the US Joint Strike Fighter and the French Rafael.
The Royal Saudi Armed Forces are on a mission to modernise, which will see the Eurofighter Typhoon replace the Tornado in the Royal Saudi Air Force.
BAE has provided Tornado planes to Saudi Arabia since 1985.
Confidential deal
Both BAE and the Ministry of Defence were keeping mum about the precise number of Eurofighters that would be sold to Saudi Arabia but the deal is rumoured to be worth more than £6bn ($10.6bn).
"The specific details of these arrangements are governed by the existing confidentiality agreement," the British embassy in Riyadh said.
Notably, the Saudi agreement is only the second export deal for Eurofighter - Austria previously bought 18 of the aircraft.
The countries behind the Eurofighter have ordered 620 of them.
The Eurofighter has its UK base at Warton, Lancashire, where BAE Systems employs 9,000 people in its aircraft division. These jobs will be safeguarded by the deal over the next 10 years, said UK defence secretary John Reid.
Shares in BAE Systems hit a three-year high on Wednesday, up 22.25 pence to 370p.
Jesus Christ, the Saudis are sure buying arms like crazy. I think they also signed a deal to buy 70 some Rafales from France a couple months ago as well. Above that they are upgrading their Tornadoes for several more billion dollars. That is a LOT of weaponry for any country.
RIYADH, Saudi Arabia,
Dec. 21--Saudi Arabia expects to conclude a deal with Britain for military aircraft soon, the kingdom’s defense minister said in remarks published on Wednesday.
Prince Sultan bin Abdul-Aziz, in comments reported by the state-run Saudi Press Agency, would not disclose details, Reuters reported.
But he told reporters after talks with visiting British Defense Minister John Reid: “God willing, we hope to conclude in the near future a deal for modern planes with Britain.“ Sources close to the negotiations have said the deal was likely to involve Saudi Arabia buying at least 48 Eurofighter Typhoon jets, with an option to raise that to 72. The sources did not give a value for the potential deal.
A senior source close to the deal told Reuters an accord might be signed later in the day after Reid meets Saudi King Abdullah.
The Eurofighter consortium includes BAE Systems, EADS and Italy’s Finmeccanica.
Officials at BAE in Riyadh and London declined immediate comment.
A spokeswoman for Britain’s Ministry of Defense would say only that “negotiations are continuing.“
Saudi sources said the kingdom was also considering buying Rafale jets from France’s Dassault Aviation.
Eurofighter sold to Saudi Arabia
The Eurofighter has taken more than 20 years to design and build
Shares in BAE Systems have risen over 6% in value after the UK government agreed to supply Saudi Arabia with the new Eurofighter.
This is the first contract for the jet outside Europe and will safeguard thousands of UK jobs.
The Eurofighter has been developed by a consortium of firms in the UK, Germany, Spain and Italy.
It is competing for market share against two rival jets, the US Joint Strike Fighter and the French Rafael.
The Royal Saudi Armed Forces are on a mission to modernise, which will see the Eurofighter Typhoon replace the Tornado in the Royal Saudi Air Force.
BAE has provided Tornado planes to Saudi Arabia since 1985.
Confidential deal
Both BAE and the Ministry of Defence were keeping mum about the precise number of Eurofighters that would be sold to Saudi Arabia but the deal is rumoured to be worth more than £6bn ($10.6bn).
"The specific details of these arrangements are governed by the existing confidentiality agreement," the British embassy in Riyadh said.
Notably, the Saudi agreement is only the second export deal for Eurofighter - Austria previously bought 18 of the aircraft.
The countries behind the Eurofighter have ordered 620 of them.
The Eurofighter has its UK base at Warton, Lancashire, where BAE Systems employs 9,000 people in its aircraft division. These jobs will be safeguarded by the deal over the next 10 years, said UK defence secretary John Reid.
Shares in BAE Systems hit a three-year high on Wednesday, up 22.25 pence to 370p.
Jesus Christ, the Saudis are sure buying arms like crazy. I think they also signed a deal to buy 70 some Rafales from France a couple months ago as well. Above that they are upgrading their Tornadoes for several more billion dollars. That is a LOT of weaponry for any country.