Defence company BAE Systems (BAES.L) said it was making progress on a deal with Saudi Arabia over the pricing for Eurofighter jets and was seeking other buyers for the aircraft after the collapse of a potential sale to the United Arab Emirates.
BAE’s Chief Executive Ian King said a series of other bids with other air forces had been put in. Current orders, including a deal with Oman for 12 aircraft, would guarantee that the manufacturing line will stay busy till 2018, King, speaking to reporters in London on Wednesday, said.
BAE shares lost about 5 percent on December 20, the day after it announced the end of talks with the UAE over a potential $9.8 billion Eurofighter deal and said that Saudi talks had still not been resolved. The shares have since recovered that value.