BAE hits back at Saudi Arabia talks rumours

AEROSPACE giant BAE has hit back at reports that talks with Saudi Arabia over the supply of its fighter jets have stalled.

Share prices fell by four per cent yesterday after it was revealed the UAE had pulled out of discussions to buy Typhoon jets in a deal thought to be worth billions.

And investors were also spooked because there was no sign of progress on price negotiations surrounding a 2007 deal with Sauda Arabia, when the oil-rich country bought 72 jets.

But the company denies talks have been disrupted and said it would not be rushed into striking a deal.

It said in a statement: “The group’s focus in these negotiations continues to be on agreeing appropriate terms and not the timing of such an agreement.

BAE Systems’ long-standing relationship with its much valued customer in the Kingdom of Saudi Arabia remains excellent.”

BAE pointed to the ‘substantial’ new business in has received this year as evidence the relationship with Saudi was not turning sour.

Chorley MP Lyndsay Hoyle said: “It’s a major contract and one we have to secure, but BAE has to look where it makes its profit.

What we can’t afford to do is lose that contract. It would be a disaster for Lancashire.

“The sooner we see that deal the better, following UAE’s announcement.

“Vince Cable, the defence team, and the Prime Minister should be flying out there to see what we can do to resurrect the deal.”

Defence and aerospace specialist Howard Wheeldon said UAE’s announcement was ‘hugely disappointing’ but not irrecoverable.

He said: “They have not lost it to another aircraft and I think it could still resurface.”

Mr Wheeldon said the pricing dispute with the Saudis is down to an increase in the Typhoon’s capabilities.

He said: “The bells and whistles were upgraded, and therefore there’s a price difference. The equipment and the capabilities changed, and the price goes up as a result.

“I think there’s a good possibility [the Saudis] will sign an agreement in the next three months, but I don’t know.

“My gut feeling is that we are moving in the right direction on this, but nobody can say when and if this will be the case.

“I have been to Saudi several times - you negotiate and then you sit and wait. It’s a system that does not work the same way.

“But you respect that and you can’t order them around.

“My view is that BAE has gone as far as it can, and now they are just waiting for the Saudis to formally say and sign.

“That’s why they put out this announcement.”

Comments (10)

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8:18pm Sat 21 Dec 13

doomchanter says...

Why not try bribing them like the last time?
Why not try bribing them like the last time? doomchanter

8:55pm Sat 21 Dec 13

sugar is sweet says...

Why should we buy off you when we can get a better price and service elsewhere? Say the Saudi Arabian Government.
Also Iran is ok, Israel left.
Why should we buy off you when we can get a better price and service elsewhere? Say the Saudi Arabian Government. Also Iran is ok, Israel left. sugar is sweet

9:25am Sun 22 Dec 13

Pyewacket2 says...

Remember the bribery and corruption of the Al Yammamah deal brokered by Mark Thatcher, making him millions. The enquiry was swept under the carpet by Blair's Government, never to see the light of day again. Sadly it is part and parcel of the culture of these Rag-Head Middle Eastern states that palms are liberally greased with bungs or else the deal is a non starter.

To keep jobs in Lancashire try bigger brown envelopes !!
Remember the bribery and corruption of the Al Yammamah deal brokered by Mark Thatcher, making him millions. The enquiry was swept under the carpet by Blair's Government, never to see the light of day again. Sadly it is part and parcel of the culture of these Rag-Head Middle Eastern states that palms are liberally greased with bungs or else the deal is a non starter. To keep jobs in Lancashire try bigger brown envelopes !! Pyewacket2

9:51am Sun 22 Dec 13

mavrick says...

So a few investors on the stock market got spooked, they might lose a few quid. It is sickening to see the corruption and grovelling to the Saudi regime. they produce the biggest amount of terrorists, they treat women like dirt, life means nothing to this bunch of savages. but they have oil and money.
So a few investors on the stock market got spooked, they might lose a few quid. It is sickening to see the corruption and grovelling to the Saudi regime. they produce the biggest amount of terrorists, they treat women like dirt, life means nothing to this bunch of savages. but they have oil and money. mavrick

6:58pm Sun 22 Dec 13

jhspacehound8@gmail.com says...

But they do have honour..
But they do have honour.. jhspacehound8@gmail.com

11:31pm Sun 22 Dec 13

hiddenagendas says...

sugar is sweet wrote:
Why should we buy off you when we can get a better price and service elsewhere? Say the Saudi Arabian Government.
Also Iran is ok, Israel left.
Tesco take note.
[quote][p][bold]sugar is sweet[/bold] wrote: Why should we buy off you when we can get a better price and service elsewhere? Say the Saudi Arabian Government. Also Iran is ok, Israel left.[/p][/quote]Tesco take note. hiddenagendas

11:48pm Sun 22 Dec 13

3 for 10p says...

Well well well , your precious jobs are not all that safe are they?
The less weapons sold the more peaceful a world.
Ho Ho Ho Merry Christmas. :-)
Well well well , your precious jobs are not all that safe are they? The less weapons sold the more peaceful a world. Ho Ho Ho Merry Christmas. :-) 3 for 10p

8:31am Mon 23 Dec 13

Victor.meldrew says...

3 for 10p wrote:
Well well well , your precious jobs are not all that safe are they?
The less weapons sold the more peaceful a world.
Ho Ho Ho Merry Christmas. :-)
Bet you wish you had a well paid job there.
So you wouldn't need to copper 10p together from the back of the sofa to buy 3 of what ever.
There will be other projects to keep the place going for the foreseeable future.
Merry Christmas
[quote][p][bold]3 for 10p[/bold] wrote: Well well well , your precious jobs are not all that safe are they? The less weapons sold the more peaceful a world. Ho Ho Ho Merry Christmas. :-)[/p][/quote]Bet you wish you had a well paid job there. So you wouldn't need to copper 10p together from the back of the sofa to buy 3 of what ever. There will be other projects to keep the place going for the foreseeable future. Merry Christmas Victor.meldrew

12:09pm Mon 23 Dec 13

noddy57 says...

mavrick wrote:
So a few investors on the stock market got spooked, they might lose a few quid. It is sickening to see the corruption and grovelling to the Saudi regime. they produce the biggest amount of terrorists, they treat women like dirt, life means nothing to this bunch of savages. but they have oil and money.
its the same old story ,cash for questions ,,bribes in big envelopes anything to keep on the oil producers good side no matter what the cost, double standards and anything goes, this government like many previous make me puke,
[quote][p][bold]mavrick[/bold] wrote: So a few investors on the stock market got spooked, they might lose a few quid. It is sickening to see the corruption and grovelling to the Saudi regime. they produce the biggest amount of terrorists, they treat women like dirt, life means nothing to this bunch of savages. but they have oil and money.[/p][/quote]its the same old story ,cash for questions ,,bribes in big envelopes anything to keep on the oil producers good side no matter what the cost, double standards and anything goes, this government like many previous make me puke, noddy57

7:02am Tue 24 Dec 13

3 for 10p says...

Victor.meldrew wrote:
3 for 10p wrote:
Well well well , your precious jobs are not all that safe are they?
The less weapons sold the more peaceful a world.
Ho Ho Ho Merry Christmas. :-)
Bet you wish you had a well paid job there.
So you wouldn't need to copper 10p together from the back of the sofa to buy 3 of what ever.
There will be other projects to keep the place going for the foreseeable future.
Merry Christmas
Oohhh! Touchie arnt we
[quote][p][bold]Victor.meldrew[/bold] wrote: [quote][p][bold]3 for 10p[/bold] wrote: Well well well , your precious jobs are not all that safe are they? The less weapons sold the more peaceful a world. Ho Ho Ho Merry Christmas. :-)[/p][/quote]Bet you wish you had a well paid job there. So you wouldn't need to copper 10p together from the back of the sofa to buy 3 of what ever. There will be other projects to keep the place going for the foreseeable future. Merry Christmas[/p][/quote]Oohhh! Touchie arnt we 3 for 10p

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