Saab, Brazil Seal USD 5.4 B Deal for 36 Gripen Jets

World » INTERNATIONAL BUSINESS | October 27, 2014, Monday // 21:20
Bulgaria: Saab, Brazil Seal USD 5.4 B Deal for 36 Gripen Jets Photo by EPA/BGNES.

Swedish defense group Saab AB has signed a deal with Brazil for development and production of thirty-six Gripen NG fighters, the manufacturer itself said in a statement.

An Industrial Cooperation Contract to deliver "substantial technology transfer" from Saab to the Brazilian industry was has also been signed between the two parties.

As many as 28 single-seat and 8 two-seat aircraft are to be deliveried to the Brazilian air force starting 2019.

Local companies are to build up to 80 percent of the one-seat Gripen E and will be in charge of much of the development of the Gripen F.

The inking of the deal cements Brazil's choice of Gripen NG to be its next-generation fighter jet, one that was announced on December 18, 2013, when Saab won a tough bidding war it fought with France's Dassault Aviation SA and US-based Boeing Co to ensure the contract.

Earlier this year Saab lost an otherwise lucrative deal with Switzerland, when the purchase of 22 Gripen jets was rejected by voters on a national referendum.

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Tags: Saab, Brazil, Gripen, Switzerland

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