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Sunday, February 20, 2011

Brazil to delay huge fighter jets deal

Gripen NGBrazil is postponing a long-awaited decision on a multi-billion-dollar purchase of 36 fighter jets until next year as a result of massive budget cuts, a Brazilian newspaper reported Saturday.

Major daily O Estado de Sao Paulo cited four unnamed government ministers as saying new President Dilma Rousseff saw no "climate" for the acquisition in 2011, and that such a move in the midst of a $30-billion slash in the year's budget would be an "inconsistency."

France, Sweden and the United States are vying for the contract, which has an initial value estimated at $4 billion to $7 billion, with the possibility of many more aircraft in the future as the Brazilian Air Force seeks to revamp its fleet of fighters.

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