France loses out on Brazil jets deal

France will lose out in its bid to win a multibillion-dollar fighter jet contract with Brazil, the Folha de Sao Paulo daily reported on Saturday.

The newspaper set France's US$4 billion proposal for 36 Rafale fighter jets, from a consortium led by French giant Dassault, will be shot down for cost reason. It did not say who would be the likely winner of the highly prized contract.

The French bid is up against Boeing's F/A-18 Super Hornet and the Gripen, made by Sweden's Saab, for its FX-2 program.

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