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Pin to quick picksBAE Systems Share News (BA.)

Share Price Information for BAE Systems (BA.)

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Share Price: 1,268.00
Bid: 1,272.00
Ask: 1,272.50
Change: -12.00 (-0.94%)
Spread: 0.50 (0.039%)
Open: 1,288.00
High: 1,291.50
Low: 1,268.00
Prev. Close: 1,280.00
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Leonardo executive confident Rome will order new Eurofighter jets

Thu, 06th Jun 2024 15:41

BERLIN, June 6 (Reuters) - Rome is set to announce a deal shortly for additional Eurofighter combat jets for its air force, a senior executive at state-controlled defence and aerospace group Leonardo said on Thursday.

The move follows Germany's announcement on Wednesday that it will buy 20 additional aircraft, at a time when members of NATO are increasing defence spending in the wake of Russia's invasion of Ukraine.

"I am confident that Italy will soon follow with a similar declaration," Leonardo Co-General Manager Lorenzo Mariani told Reuters at the ILA airshow just outside Berlin.

He did not give further details on the number of jets that will be bought or on the timing of the deal.

Speaking at the opening of the ILA airshow on Wednesday, German Chancellor Olaf Scholz said he was strongly committed to maintaining and expanding arms production capacity.

Italy's deal for more jets will require the allocation of new funds in addition to the country's approved military budget and will need formal authorisation from parliament.

Janes defence news agency reported in May that Rome is looking for 24 more jets to add to the 94 it has in service, as the air force prepares to retire older aircraft.

The twin-engine, supersonic Eurofighter Typhoon jets are built by a consortium of Germany, Britain, Italy and Spain, represented by Airbus, BAE Systems and Leonardo. (Reporting by Sabine Siebold in Berlin, additional reporting by Angelo Amante in Rome, writing by Giulia Segreti, editing by Gianluca Semeraro and Jane Merriman)

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