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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Airbus SE    AIR   NL0000235190

AIRBUS SE

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Sweden's Saab backs out of Swiss fighter jet test flights

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06/13/2019 | 03:36am EDT
Sweden's Air Force Saab JAS 39 Gripen fighter is seen during the AFX 18 exercise in Amari military air base

STOCKHOLM (Reuters) - Saab will not test its Gripen fighter jet this month in Switzerland, the Swedish company said on Thursday, after the Swiss defense procurement agency recommended against it on grounds the plane would not be operationally ready in 2019.

"The Gripen E development plan does not match the Swiss plan to perform flight tests with aircraft that are operationally ready in 2019," Saab said in a statement. "Therefore, Saab has decided not to attend the Swiss flight tests."

The Swiss government has set a budget of 6 billion Swiss francs ($6 billion) for new jets to replace its ageing fleet and is evaluating proposals from Saab as well as Airbus, France's Dassault, and Boeing and Lockheed Martin from the United States.

(Reporting by John Miller; Editing by Michael Shields)

Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 0.37% 125.46 Real-time Quote.48.88%
BOEING COMPANY (THE) 5.37% 373.96 Delayed Quote.7.65%
DASSAULT AVIATION 0.66% 1216 Real-time Quote.-0.17%
LOCKHEED MARTIN CORPORATION 1.39% 353.52 Delayed Quote.33.17%
SAAB AB 2.38% 297.3 Delayed Quote.-5.65%
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Financials (€)
Sales 2019 70 096 M
EBIT 2019 6 686 M
Net income 2019 4 245 M
Finance 2019 12 199 M
Yield 2019 1,71%
P/E ratio 2019 21,64
P/E ratio 2020 16,63
EV / Sales 2019 1,17x
EV / Sales 2020 1,06x
Capitalization 94 087 M
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Number of Analysts 24
Average target price 135 €
Spread / Average Target 12%
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Thomas Enders Chief Executive Officer & Executive Director
Denis Ranque Non-Executive Chairman
Harald Wilhelm Chief Financial Officer
Luc Hennekens Chief Information Officer
Grazia Vittadini Chief Technology Officer
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