BA. Bae Systems Plc

TIDMBA.

RNS Number : 1511B

BAE SYSTEMS PLC

18 September 2018

18 September 2018

BAE Systems - Qatar contract for Typhoon and Hawk aircraft effective

The information in this announcement includes inside information relating to BAE Systems plc

The contract signed in December 2017 between BAE Systems and the Government of the State of Qatar for the supply of 24 Typhoon aircraft to the Qatar Emiri Air Force along with a bespoke support and training package was subject to financing conditions and receipt by the Company of first payment. The contract was amended in June to include the supply of nine Hawk Advanced Jet Trainer aircraft along with an initial support package.

These conditions have now been met, and the contract valued at approximately GBP5bn has become effective with receipt of the first payment today,18 September.

Deliveries of the first Typhoon and Hawk aircraft are expected to commence in 2022.

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.

 
For further information please contact: 
Investors                                Media Relations 
Martin Cooper,                            Jonathan Refoy, 
 Investor Relations Director               Director, Media Relations 
 Telephone: +44 (0)1252 383040             Telephone: +44 (0)7880 252144 
 Email: investors@baesystems.com           Email: jonathan.refoy@baesystems.com 
 

Issued by:

David Parkes - Company Secretary

BAE Systems plc

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

CNTLPMJTMBMBBJP

(END) Dow Jones Newswires

September 18, 2018 09:05 ET (13:05 GMT)

Bae Systems (LSE:BA.)
Historical Stock Chart
From Apr 2024 to May 2024

Bae Systems (LSE:BA.)
Historical Stock Chart
From May 2023 to May 2024