Delays to BAE Systems’ Eurofighter jet deal with Saudi Arabia could hit the defence company’s 2011 earnings, BAE warned in a statement on Wednesday.
Negotiations over the price escalation of the deal, which was initially valued at £4.5bn-£10bn, for 72 Eurofighter Typhoon jet fighters, will continue into 2012, rather than having been completed in 2011 as the company and many analysts had hoped.
Nevertheless, analysts called the news broadly positive, especially for 2012 and beyond. BAE’s shares, however, fell 7.6p to 287.3p.
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