BAE Purses Saudi Arabia, UAE Typhoon Combat Jet Exports - Bloomberg:
"BAE Systems Plc (BA/), Europe’s largest defense company, said production of Typhoon combat jets may extend past this decade as it works to secure a follow-up order in Saudi Arabia and for 60 jets from the United Arab Emirates.
The deals could secure production, currently running out in the first quarter 2018, until 2022 at a rate of 30 planes a year, Chief Executive Officer Ian King told reporters today. Saudi Arabia may buy 48 to 72 more jets beyond 72 on order, with a bid to be submitted soon to the UAE, he said.
BAE has leaned on export markets to offset unchanged or declining spending at home. Oman last year agreed to buy 12 Typhoons to become a new customer for the jet. The gains in the Middle East contrast with a “challenging” defense environment overall, particularly given uncertain U.S. plans, BAE said today as it reported earnings that missed analyst estimates."
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