September 18, 2018 / 2:15 PM / a month ago

BAE Systems finalises deal to sell Typhoon jets to Qatar

LONDON (Reuters) - British defence contractor BAE Systems (BAES.L) said that a 5 billion pound contract to sell 24 Typhoon fighter jets to Qatar became effective on Tuesday after conditions were met, giving it its first payment from the deal.

A Eurofighter Typhoon EF2000 fighter jet from the Spanish Air Force makes a high speed pass during an international aerial and naval military exhibition commemorating the centennial of the Spanish Naval Aviation, over a beach near the naval airbase in Rota, southern Spain, September 16, 2017. REUTERS/Jon Nazca

The sale to the Middle Eastern country includes the supply of nine Hawk trainer aircraft and a provision of in-service support and initial training, with the first jets due to be delivered in 2022.

The Eurofighter Typhoon is a joint project between BAE, France’s Airbus (AIR.PA) and Italy’s Leonardo (LDOF.MI). BAE is the prime contractor on the Qatar deal.

Qatar’s purchase was supported by a 5 billion pound package of financing and insurance support provided by UK Export Finance, the UK government said in a statement.

In March, BAE also agreed to finalise talks with Qatar’s regional rival Saudi Arabia on a multi-billion pound order for 48 Typhoon aircraft.

Reporting by Sarah Young; editing by Stephen Addison

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