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Thursday, May 24, 2012

BAE Gets $3B Contract In Saudi-UK Trainer Jet Deal

[BAE Hawk trainer]U.K. defense contractor BAE Systems PLC (BA.LN) Wednesday secured a $3-billion contract to supply Hawk trainer jets to Saudi Arabia's air force, the latest military equipment deal under a Saudi-British defense pact.

BAE Systems, whose products include Challenger tanks, Tornado jet fighters, Astute class submarines and Queen Elizabeth-class aircraft carriers, will also supply simulators, ground equipment, and spare parts as part of the aircraft deal.

"(The contract) will have a significant impact on the qualification of Saudi air crews who will be able to use fourth-generation fighter aircraft with efficiency," a Saudi Arabian official said.

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