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Saturday, 25 August 2012 - Sweden to buy 40-60 next generation Saab Gripen jets |
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      Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Breakingviews Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Video Reuters TV Reuters News Article Comments (0) Pictures Photos of the week Our top photos from the past week.  Slideshow  Follow Reuters Facebook Twitter RSS YouTube Read Biden postpones Tampa campaign event next week 24 Aug 2012 Analysis: Sweeping Apple win, but Samsung set for bounce-back 1:33am EDT Tropical Storm Isaac drenches Haiti, aims for Cuba | 11:43am EDT U.N. to invade Texas? "Ridiculous," says world body 24 Aug 2012 Apple triumphs over Samsung, awarded over $1 billion damages 24 Aug 2012 Discussed 138 Obama’s lead over Romney grows despite voters’ pessimism 122 Romney to announce vice presidential choice Saturday 94 Analysis: Are Israelis tough enough for a long war with Iran? Sponsored Links Sweden to buy 40-60 next generation Saab Gripen jets Tweet Share this Email Print Related News Spyker sues GM for over $3 billion on Saab bankruptcy Mon, Aug 6 2012 Analysis & Opinion Romney’s tax audit, Aurora and risk, inside the IRS Related Topics World » STOCKHOLM/ZURICH | Sat Aug 25, 2012 12:23pm EDT STOCKHOLM/ZURICH (Reuters) - Sweden said on Saturday it would buy 40-60 new JAS 39 Gripen fighter jets from aerospace firm Saab after inking a deal last year to share some of the development costs with Switzerland. Sweden has not previously said how many of the next generation Gripen planes it would buy, although its development partner for the jet, Switzerland, said late last year it would buy 22 at a cost of 3.1 billion Swiss francs. "The partnership with Switzerland means that together we can procure and operate a high-capability fighter plane program at a lower cost than we had been forced to pay if Sweden had procured (the jets) alone," Swedish Prime Minister Fredrik Reinfeldt said in a newspaper article signed by the leaders of all four parties in the ruling Alliance. But the head of Switzerland's Free Democrats (FDP) indicated in a newspaper report that his party was unlikely to support the country's planned purchase of 22 of the jets, which could scupper the Swiss side of the deal. Switzerland's parliament is expected to vote on the controversial purchase to replace aged Northrop F-5E/F Tiger fighters, in October. In order for it to pass, the pro-business FDP must back it. Asked by the Neue Zuercher Zeitung whether the FDP would pull the plug on the deal, party president Philipp Mueller said: "At least, we're about to do so. It has been known for some time that there are a lot of question marks surrounding the Gripen order." Mueller cited questions about the yet to be developed technologies used in the jets and the chance of cost overruns as reasons to object to the purchase. The government opted last November to buy 22 JAS-39 Gripens. But the decision is unpopular with some because it will require spending cuts in other areas, such as education. The issue may even be put to a referendum in Switzerland. "We will fight for a good, effective and financially viable fighter plane," he said. "Given our knowledge today, the Gripen doesn't fulfill the requirements to succeed with the people." But the Swedish prime minister said Sweden needed the planes, expected to come into service in 2023, to defend its territory and carry out its international commitments. Purchasing the jets would not come at the expense of other military spending and would be good for Swedish industry, he said. "The decision is necessary in terms of our defence capabilities, but also positive for Swedish jobs, Swedish exports and Swedish research and development," Reinfeldt said. Sweden's agreement with Switzerland includes sharing the costs for training pilots and mechanics, maintenance and future upgrades to the plane during its expected 20 year life-cyle. (Reporting by Simon Johnson and Catherine Bosley; Editing by Hugh Lawson) World Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.   Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter   Facebook   LinkedIn   RSS   Podcast   Newsletters   Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us   Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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