0121 568 8793 [email protected]
fighter jets to Brazil

Saab $5.4b Order to Sell Fighter Jets to Brazil

October 31 2014

Swedish aerospace firm Saab has finalised one of the most valuable defence contracts in an emerging market confirming the sale of 36 fighter jets to Brazil for the value of $5.4 billion.

A statement from Saab confirmed that the total order value for the NG Gripen jets was around 39.3 billion Swedish Crowns ($5.4 billion) and are to be delivered between 2019 and 2024.

In December 2013, the company won a long bidding war against France’s Dassault Aviation SA and Chicago based Boeing Co for the delivery of new fighter jets for the Brazilian air force in collaboration with local aircraft maker Embraer.

“Since then all parties have negotiated to finalize a contract. Today’s announcement marks the successful conclusion of that process,” Saab said.

Embraer will have a leading role in the program and undertake an extensive share of work in the production and delivery of the planes.

“We see great opportunities to continue to work with Brazil and Embraer on different markets,” Chief Executive Håkan Buskhe told The Wall Street Journal.

Saab stated that this deal with an “emerging superpower” such as Brazil has dramatically increased Saab’s opportunity to do business worldwide, not least in South America.

Shares in Saab jumped on news of the deal to trade at their highest level in more than a month. At around 1200 GMT, they were up 4.2% at SEK189.50.

Source: The Wall Street Journal and Reuters  

Share this:
Share this page via Email Share this page via Stumble Upon Share this page via Digg this Share this page via Facebook Share this page via Twitter

Paraíba, the largest wind power complex in Latin America

Iberdrola will build the largest renewable energy project in Latin America in the northeast of Brazil: The complex of Paraíba, will be the largest land-based wind farm in Latin America once it enters into operation in 2022/2023. This large...

Read More

Stay up to date

Sign up to our monthly newsletter:

Email Address

By signing up to our newsletter you indicate your consent to receiving email marketing messages from us. If you do not want to receive such messages, tick here: 

You can opt out any time via the unsubscribe link at the bottom of our newsletter or click here