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FINANCIAL NEWS
Saudi Arabia to pay BAE a cash boost for Eurofighter order
05 Jan 2012
(MENAFN) Saudi Arabia will pay UK’s BAE systems a cash boost of about USD80 million as soon as they reach a deal on pricing for Eurofighter aircraft, according to UBS analysts, Bloomberg reported.
The analysts expected to see the bulk of Saudi upgrading Salam jet contracts agreed in the first half of this year.
Saudi Arabia received 24 Typhoon jets from the defense company, and currently both are in talks for another 48 after amendments to the original contract.
BAE may also receive a new Saudi order of more Hawk jets worth USD2.3 billion, after the Gulf kingdom gave the green light for a pilot training program, according to UBS.
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