Dec.20 - BAE Systems says the United Arab Emirates has quit talks to buy Eurofighter Typhoon aircraft in a deal thought to be worth £6 billion. David Pollard reports.
Six billion pounds, or nearly ten billion dollars, is thought to be the value of the deal under discussion. BAE Systems was expected to supply at least 60 Eurofighter aircraft to the United Arab Emirates. But now says that the risk of not winning the contract is high. The talks have been going on for months - BAE Systems' chief executive Ian King saying in August that the order - and another from Saudi Arabia - would be - in his words - a 'major game changer' for the company. BAE Systems says it's still in talks over pricing for the Saudi or so-called 'Salaam' deal - though delays there have repeatedly forced the defence company to trim earnings forecasts. Saudi Arabia agreed to buy 72 Eurofighters for just under four and half a billion pounds back in 2007. The UAE deal is also being fought for by France's Dassault and it's believed Boeing is also in contention.