SAAB AB (Stockholm: SAABb) has today signed a contract with the Swedish Defence Materiel Administration (FMV) and received an order for four additional Gripen C fighter aircraft for Hungary.
This order follows an amendment to the contract between FMV and the Hungarian Government signed in December 2001 regarding 14 Gripen C/D fighters for the Hungarian Air Force. The contract amendment for the four additional aircraft was signed by the Hungarian Ministry of Defence and FMV on 23 February 2024. With this new contract amendment, Hungary will operate a total of 18 Gripen C/D aircraft to protect and defend the Hungarian and NATO airspace.
Saab currently has a contract with FMV regarding support for Hungary’s Gripen aircraft, and Saab is ready to provide additional upgrades and support for the Hungarian fighters beyond 2035.
Saab and the Hungarian Ministry of Defence have also signed an MoU regarding development of high-tech industrial areas and fighter aircraft capabilities. The cooperation includes support for the establishment of a Centre of Excellence for VR technologies in Hungary.
Forward-Looking Statements
This press release may contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including expected delivery dates. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.