We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedFinancial Planning

BAE Systems bags £2.5bn Omani contract


Oman to buy Typhoon and Hawk jets

Article comments

BAE Systems has signed a £2.5 billion contract to supply aircraft to Oman, it was announced on Friday.

In a statement, the aerospace and defence contractor said it will provide 12 Typhoon fighter jets and 8 Hawk Advanced Jet Trainer aircraft to the Omani Air Force starting in 2017.

The contract will cover both the supply of the aircraft and after sales service support with manufacturing set to begin in 2014.

In a statement, UK Prime Minister David Cameron, who is due to visit Oman on Saturday, welcomed the announcement.

“The deal is a testament to the UK's leading aerospace industry. It will safeguard thousands of jobs across the UK, not just at the BAE Systems factories in Lancashire and East Riding in Yorkshire, but at many more small businesses up and down the country that play a vital role in delivering these aircraft,” he said.

BAE Systems, whose proposed merger with EADS collapsed earlier this year, also trumpeted the deal highlighting the safeguarding of jobs and adding that both Typhoon and Hawk are leading aircraft in their class.

In a related development, on Wednesday, the company said its full year 2012 earnings could be impacted if an agreement is not reached with Saudi Arabia over the pricing of a key contract worth £4.5 billion pertaining to the sale of 72 aircraft.

Share:

Comments

BAE Systems bags £2.5bn Omani contract
Financial Planning

Budget: What business wants

Budget: What business wants

CFOs are keen for the chancellor to avoid any uncertaintymore ..


Co-operative Group posts £2.5bn loss

Annual loss the worst in its 150 year historymore ..

Google sees 19% rise in Q1 revenue

However, company missed analysts' expectation as ad prices slidmore ..

Starbucks to move Europe HQ to UK

Coffee chain says move reflects growing importance of UK marketmore ..

Stay ahead of the curve

CFOs used to low interest rates ignore working capital optimisation at their perilmore ..

Digital streamlining of travel and expense claims [Part II]

Concur shows CFOs how to make life easier when the auditors come knockingmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

In Depth
What every company needs to do about big data?

What every company needs to do about big data?

In the first of a three part series, Pat Brans explores just how big 'big data' will get? more ..

Advertisement

* *