Canada to Buy Search-and-Rescue Plane Fleet from Airbus -- Update
December 08 2016 - 1:00PM
Dow Jones News
By Robert Wall
Airbus Group SE on Thursday said it had secured a deal with the
Canadian government to provide a new fleet of search-and-rescue
planes.
The Royal Canadian Air Force will buy 16 C295W turboprop
transport planes to fill the role, the Toulouse, France-based plane
maker said.
Italy's Leonardo-Finmeccanica SpA had also bid for the
program.
Airbus said the Canadian planes will be delivered three years
after the contract is finalized.
The Canadian government said the contract covered an 11-year
period, with a pretax value of 2.4 billion Canadian dollars ($1.8
billion). Canada said the deal includes options which could boost
the contract's value by another C$4.7 billion.
The order marks the second recent significant decision by
Canadian defense officials on the country's fleet of aircraft. Late
last month, Canada said it would hold talks with Boeing Co. to buy
18 F/A-18 Super Hornet aircraft as an interim measure in a planned
overhaul of the country's legacy CF-18 fighter jet fleet.
Paul Vieira contributed to this article.
Write to Robert Wall at robert.wall@wsj.com
(END) Dow Jones Newswires
December 08, 2016 12:45 ET (17:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Airbus (EU:AIR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Airbus (EU:AIR)
Historical Stock Chart
From Sep 2023 to Sep 2024