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Paris — BAE Systems won an order from Qatar for 24 Eurofighter Typhoon combat jets valued at £5bn as the isolated Persian Gulf state beefs up air defences.
Delivery of the aircraft to the Qatar Emiri Air Force will start in late 2022, said the London-based manufacturer. The contract is subject to financing conditions and first payment coming no later than the middle of 2018. The deal is the biggest export contract for the Typhoon in a decade, said UK Defence Secretary Gavin Williamson.
The order comes at a crucial time for the aerospace manufacturer, which is planning to eliminate more than 2,000 jobs over three years as it struggles to secure contracts for warplanes and slims down its naval ships and cybersecurity businesses.
The Typhoon is the cornerstone of a military-aircraft business that employs about 12,500 people at BAE. Production of the jets has already slowed and the Qatar order will take time to ramp up.
BAE rose 1% to 562.5p as of 8.52am in London. The stock has lost 5%...
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