Defence, security and aerospace group BAE Systems has been awarded a significant contract to support the future aircrew training requirements of the Royal Saudi Air Force by the Saudi British Defence Co-operation programme.
The £1.6bn deal follows an agreement between the governments of both the UK and the Kingdom of Saudi Arabia.
Under the contract, BAE will supply 22 new Hawk Advanced Jet trainer aircraft, 55 Pilatus PC-21 aircraft, as well as additional aircrew training equipment and an initial support package including the provision of spares, technical publications and post design support.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The share price fell 0.18% to 273.90p by 14:33.
NR
-
Frozen thresholds could push ‘tax freedom day’ to latest date this centuryTax freedom day is the point in the year you stop earning for the taxman and start earning for yourself. A rising tax burden could push it to 12 June this year – the latest date since 1982.
-
Family left with £20k IHT bill because of out-of-date tax adviceFrozen tax thresholds and dated guidance helped drag the estate into an inheritance tax liability despite extensive use of gifting to avoid a bill
