Qatar’s deal to buy 24 Typhoon jets and nine Hawks is now officially effective after BAE Systems received its first payment today.
The deal, worth around £5bn includes the aircraft and a bespoke support and training package. Qatar is now buying nine Hawk trainers, rather than six, which will also be welcome news for BAE Systems’ factories in Warton and Brough which make the jets.
UKEF’s £5bn package of support was vital to securing the deal, including by providing financing and insurance. UKEF’s role is to support UK exports including by providing export finance to enable overseas buyers to purchase goods and services from the UK, and export insurance for companies selling overseas.
International Trade Secretary, Dr Liam Fox MP, said: “The UK Government is proud to be a part of this hugely significant export contract, supporting BAE Systems, its nearly 35,000 employees and the 9,000 companies in its supply chain.
“This support from UK Export Finance will sustain jobs in one of the UK’s key industrial sectors, support economic growth, and strengthen our own defence capabilities as well as those of a key strategic ally.”
Defence Secretary, Gavin Williamson, said: “This monumental, multi-billion-pound deal is now officially in place, and those from across government and industry who have worked so hard on it together can be extremely proud to see it reach this stage. It’s a massive boost to the British defence industry, helping to support thousands of jobs and it will help us further build the trust between the UK and Qatar to tackle the challenges we both share, support stability in the region and deliver security at home.”
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