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SAAB seeks triple support for Gripen deal
Swedish defense industry company Saab has confirmed that its new orders more than tripled in the third quarter, reaching 65.8 billion Swedish kronor (6.6 billion USD), surpassing market expectations of 56.4 billion kronor. These orders were driven by a major contract to supply 16 Gripen E fighter jets to Ukraine valued at 24.6 billion kronor, with delivery expected between 2029 and 2030. Additionally, there were orders for GlobalEye aircraft and German frigate systems. The company's orders have seen significant growth since 2022, fueled by increased European government spending on defense capabilities, despite a slight dip in stock prices by 0.99%. CEO Micael Johansson stated that these large contracts reflect strong momentum that enhances the company's financial and strategic position amid rising security tensions across Europe.
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