BAE Systems announces Saudi deal for 48 Typhoon jets

BREAKING: Saudis prep for WAR – Kingdom to buy 50 fighter jets from UK

Late past year, however, BAE said it planned to axe 2,000 jobs, and had partky blamed weaker demand for Hawk and Eurofighter Typhoon fighter jets.

"The UK Government has signed a Memorandum of Intent with the Kingdom of Saudi Arabia to aim to finalise discussions for the purchase of 48 Typhoon Aircraft", BAE said in a brief statement to the London Stock Exchange.

On Thursday, Prime Minister Theresa May and the crown prince reached an agreement created to generate $90 million in trade and investment between the two countries.

There was also an estimated £65bn of additional trade agreed for the coming years as part of the Crown Prince's Vision 2030 economic plan.

"The Crown Prince's visit has opened a new chapter in our two countries' historic relationship", Williamson said.

Sky News Defence Correspondent Alistair Bunkall said the memorandum of intent still required the details to be ironed out before a final contract is signed, but he added: "You wouldn't expect things to go backwards now though".

Qatar agreed to buy 24 Typhoons in December in a contract valued at around 5 billion pounds ($6.9 billion), with delivery expected in late 2022.

Decision on any alternative front only before polls: DMK tells Mamata
Curtailing her speech due to heavy showers, she said, "Bengal has always shown people the way". She reportedly told him her party is fairly confident of a good performance in the elections.

Ahead of his visit, the crown prince signalled the importance of the UK-Saudi Arabia relationship to security, saying both countries would be "much safer if you have a strong relationship with Saudi Arabia".

Saudi Arabia is targeting children in the brutal war in Yemen with a "growing sense of impunity", a charity chief has warned as the country's key power player completed a high-profile visit to the UK.

Andrew Smith of Campaign Against Arms Trade said the United Kingdom had already licensed £4.6bn of arms for Saudi Arabia since hostilities began in Yemen in 2015.

But she has also raised concerns about the humanitarian crisis in Yemen with the Crown Prince during his visit.

The Eurofighter Typhoon is the most important combat aircraft in BAE Systems' portfolio, accounting for almost a third of the unit's sales in 2016.

BAE, Europe's biggest defense contractor, has long awaited a major Saudi order for Typhoons, and slowed production in 2016 to ensure it would remain competitive.

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