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Thursday, February 20, 2014

BAE Agrees on Saudi Jet Order Pricing

Eurofighter TyphoonBAE Systems PLC said Wednesday that it had completed long-running talks about the repricing of a multibillion-dollar deal to sell Typhoon fighter jets to Saudi Arabia, providing a boost for the U.K.'s biggest defense company amid deep spending cuts in the U.S., its largest market.

BAE said the newly agreed pricing, which it didn't specify, would keep its 2013 results broadly in line with previous guidance for double-digit growth in underlying earnings for the full year. The company is to report results Thursday.

The agreement brings to an end the repricing negotiations with Saudi Arabia on a contract agreed to in 2007 for 72 Eurofighter Typhoon jets.

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