The Government of the Czech Republic has announced the selection of 24 Saab-BAE SYSTEMS Gripen supersonic, multi-role fighters to replace its fleet of Mig 21 fighters and provide the country’s national defence and NATO needs for the next 30 to 40 years.
Subject to the successful conclusion of contract negotiations, the first Czech Air Force Gripen squadron will be operational by the end of 2005.
Gripen partners Saab and BAE SYSTEMS, through their jointly owned company Gripen International, will support the procurement of Gripen with a program of industrial offset amounting to 150 % of the contract value, delivered over a 10 year period.
The Czech government will be provided with financing for 100 % of the payments due under the aircraft supply contract, with repayments spread over at least 15 budget years from date of contract signature.
Delivered through a consortium of Czech and international banking partners and underpinned by the government export credit agencies of both Sweden and the United Kingdom, the Gripen financing package provides the Czech government with 100 % protection against unplanned foreign exchange risks.