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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BAE Systems    BA.   GB0002634946

BAE SYSTEMS (BA.)
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BAE : Eurofighter fleet passes 500,000 flying hours

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11/09/2018 | 01:49pm CET

Eurofighter Jagdflugzeug GmbH confirmed the milestone today, saying that the aircraft is combat proven, incredibly reliable and ready to play a key role in the future battlespace.

Eurofighter celebrates 500,000 flying hours

Eurofighter completes 500,000 flying hours

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The images on this site are the property of BAE Systems (Copyright © 2018 BAE Systems. All rights reserved)

Eurofighter completes 500,000 flying hours

The images on this site are the property of BAE Systems (Copyright © 2018 BAE Systems. All rights reserved)

German Airforce

The images on this site are the property of BAE Systems (Copyright © 2018 BAE Systems. All rights reserved)

Eurofighter completes 500,000 flying hours

The images on this site are the property of BAE Systems (Copyright © 2018 BAE Systems. All rights reserved)

Eurofighter completes 500,000 flying hours

The images on this site are the property of BAE Systems (Copyright © 2018 BAE Systems. All rights reserved)

Eurofighter Typhoon reaches 500k milestone

Royal Air Force Typhoon Force Commander, Air Commodore Mark Chappell and Typhoon Support Delivery Director Richard Hamilton, in the Typhoon Maintenance Facility RAF Coningsby.

The images on this site are the property of BAE Systems (Copyright © 2018 BAE Systems. All rights reserved)

Volker Paltzo, CEO of Eurofighter Jagdflugzeug GmbH, said: 'Passing the 500,000 flying hours milestone underscores the fact that today Eurofighter Typhoon is the backbone of NATO's European air defence.

'But, looking to future horizons, it will continue to be developed to defend against all threats for decades to come. The aircraft will play a key role in the future battlespace, and will be a central pillar in any future European combat air system, developing and integrating key technologies that will feed in to that future system.'

Eurofighter Typhoon has rapidly accumulated hours across the fleet, particularly in recent years, following an increase in the tempo of air policing and combat operations. There is now a fleet of almost 500 aircraft protecting Europe's borders, with the potential for this number to grow substantially in the coming decades.

In the future, Eurofighter Typhoon will get a new electronically scanned array radar, an enhanced human machine interface and new weapons.

Eurofighter is the biggest and most successful defence collaboration programme ever undertaken in Europe. It has provided security, industrial and economic cooperation and sustainment on a previously unseen scale. It is the model for future defence and industrial collaboration in Europe.

Clemens Linden, CEO of Eurojet Turbo GmbH, who provide the engines for the aircraft, joined the celebrations.

He said: 'We have clocked up more than a million hours of engine performance for the EJ200 which is a major achievement and through countless deployments, both in Europe and internationally, we have enjoyed incredible engine reliability.
'There's no doubt, that over the first million flying hours, the EJ200 engines have demonstrated they are the best in their class. Looking ahead to the next million, the engine can also be further developed to ensure that Eurofighter Typhoon will maintain its combat edge.'

Disclaimer

BAE Systems plc published this content on 09 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 November 2018 12:48:04 UTC

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Financials (GBP)
Sales 2018 18 472 M
EBIT 2018 1 895 M
Net income 2018 1 139 M
Debt 2018 782 M
Yield 2018 4,15%
P/E ratio 2018 15,10
P/E ratio 2019 14,11
EV / Sales 2018 0,97x
EV / Sales 2019 0,90x
Capitalization 17 164 M
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Average target price 7,01  GBP
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Charles Nicolas Woodburn Chief Executive Officer & Director
Roger M. Carr Chairman
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Nigel Whitehead Chief Technology Officer
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