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Friday, February 14, 2014

Saab Hopes Gripen Deal Will Secure More Aircraft Orders

JAS-39 GripenSwedish defense group Saab AB hopes that a recent Brazilian order for its Gripen aircraft will help it win more fighter-jet deals from other countries, even as the company's fourth-quarter earnings fell amid tough market conditions, its chief executive said Thursday.

"Brazil's choice of Gripen has received attention across the globe," Hakan Buskhe told The Wall Street Journal in an interview. "This gives an extra boost to a number of other discussions that we are involved in."

Brazil in December placed an order worth an estimated $4.5 billion for 36 Gripen jets to replace aging Dassault Aviation SA Mirage 2000 aircraft, in a deal that the Swedish company expects to complete this year.

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