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BREAKING NEWS

Qatar places order for 24 Typhoon combat jets from BAE Systems Plc

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Qatar places order for 24 Typhoon combat jets from BAE Systems Plc

Qatar places order for 24 Typhoon combat jets from BAE Systems Plc
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The British aerospace company, BAE Systems Plc has won an order from Qatar for 24 Eurofighter Typhoon combat jets as the isolated Persian Gulf state looks to bolster its air defences.

The aircraft will be delivered to the Qatar Emiri Air Force from late 2022 and the deal is the biggest export contract for the Typhoon in a decade.

The order will come as a massive boost for the aerospace manufacturer, whose recent struggle to secure contracts for warplanes has led to plans to eliminate more than 2,000 jobs over the next three years.

The Typhoon is the cornerstone BAE Systems Plc, but the production of the jets has already slowed and the order from Qatar will take some time to ramp up.

It will hope that the order will help efforts to retain the 12,500 staff working for BAE.

Early indications in the stock market showed that the company could be on the mend, however, with BAE rising 1 percent to 562.5 pence as of 8:52 a.m. in London.

The stock has already lost 5 percent of its value this year, valuing the manufacturer at 17.9 billion pounds.