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Oman Buys $4.1 Billion Worth of Fighter Jets From BAE

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On Friday, U.K. defense contractor BAE Systems announced that it has concluded a major arms sale to the Sultanate of Oman, involving 12 Typhoon fighter jets and eight Hawk training jets. At the request of its customer, BAE declined to specify the value of the contract, but news sources such as The Wall Street Journal posit a total deal value of $4.1 billion, with perhaps as much as $820 million being paid up front.

Oman has a long history of patronizing BAE for its military aircraft. Its air force currently trains on older BAE Hawk jets, and flies Jaguar fighter jets.

In a press release on the deal, BAE confirmed that it will provide after-sale in-service support for the jets to the Royal Air Force of Oman. BAE further advised that it expects to begin delivery of the jets to Oman in 2017.

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Rich Smith

I like things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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