BAE Systems

BAE Systems – Typhoon deal shot down, and credit extended

There was bad news from BAE Systems yesterday - issued after close of trading which is always a negative sign. Firstly the prospective deal to sell Typhoons to the United Arab Emirates (UAE) is apparently a dead duck. That's perhaps not altogether surprising. But the worse news was that the pricing of a sale of the same planes to Saudi Arabia under the Salam contract has still not yet been agreed. The announcement says the parties are "actively engaged" but a "definitive ...