Saab Signs $7.5 Billion Gripen Fighter Jet Deal

Via The Swedish Wire:

Swedish defense company Saab said Friday it has signed a deal to sell new Gripen E figter jets for 2.5 billion kronor ($396 million) to the Swedish Defense Materiel Administration, FMV.

Total value under a new agreement could amount to 47.2 billion kronor ($7.5 billion), a statement said.

The first of the 60 Gripen E jets – modified jets of the existing Gripen C model – are due to be delivered in 2018.

The agreement was signed after a go-ahead from the Swedish parliament.

The agreement includes development and modification of Gripen E for Sweden during the period 2013-2026 and a possible order for new production of Gripen E from Switzerland.

FMV has placed an initial development order of SEK 2.5 billion for operations during 2013-2014.

The total value of possible orders under the agreement, including from Switzerland, would amount to 47.2 billion Swedish crowns, Saab said in a statement.

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