By Stanley Carvalho
Boeing and Lockheed Martin seal military transport aircraft deals worth $2.8bn.
US companies Boeing and Lockheed Martin have been awarded contracts worth a total of $2.8 billion for military transport aircraft by the United Arab Emirates, a UAE official said.The UAE armed forces awarded a 5.9 billion dirham ($1.61 billion) contract to Lockheed Martin and a 4.3 billion dirham deal to Boeing, said Major General Obaid al-Ketbi, chairman of the IDEX defence exhibition in Abu Dhabi.
Lockheed Martin will supply 12 C-130J aircraft and Boeing will supply four C-17 aircraft, which the UAE has said it needs to enhance airlift capabilities.
Abu Dhabi-based investment company Waha Capital will undertake the purchase and manage the financing of the aircraft, Ketbi told reporters.
The UAE struck contracts to the tune of 12.4 billion dirhams on the third day of the 9th International Defence Conference and Exihibition (IDEX 2009), IDEX Spokesperson Staff Major General Obaid Al Ketbi said Tuesday. (Reuters)