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BAE Systems Signs GBP 5 Bln Contract With Qatar To Supply Typhoon Aircraft

BAE Systems plc (BA.L, BAESY), a defense, aerospace and security company, announced Monday that the company and the Government of the State of Qatar have entered into a contract for the supply of Typhoon aircraft to the Qatar Emiri Air Force along with a bespoke support and training package.

The contract is valued at approximately 5 billion pounds. The contract provides for 24 Typhoon aircraft with delivery expected to commence in late 2022.

The contract is subject to financing conditions and receipt by the Company of first payment, which are expected to be fulfilled no later than mid-2018.

BAE Systems is the prime contractor for both the provision of the aircraft and the agreed arrangements for the in-service support and initial training.

Charles Woodburn, BAE Systems Chief Executive said, "We are delighted to begin a new chapter in the development of a long-term relationship with the State of Qatar and the Qatar Armed Forces, and we look forward to working alongside our customer as they continue to develop their military capability."

by RTTNews Staff Writer

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