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UAE pulls out of massive aerospace deal with BAE
2:52pm Friday 20th December 2013 in News
THE United Arab Emirates has pulled out of a multi-million pound deal with aerospace giant BAE.
The UAE and the UK government had been in talks over the supply of BAE’s £65m Typhoon figher jets.
But BAE said in a statement yesterday: “The UAE have advised that they have elected not to proceed with these proposals at this time.”
All parties invested significant effort in the drawing up of the proposals, but BAE is not believed to have built the deal into any financial plans and said it ‘stands ready to work with the UAE’ in the future.
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