Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

UPDATE 1-Dassault hopes to sell more Rafales to India

Published 2017-05-21, 10:31 a/m
Updated 2017-05-21, 10:40 a/m
© Reuters.  UPDATE 1-Dassault hopes to sell more Rafales to India

© Reuters. UPDATE 1-Dassault hopes to sell more Rafales to India

(Adds details, background, quotes)

By Cyril Altmeyer

GENEVA, May 21 (Reuters) - French planemaker Dassault Aviation SA AVMD.PA hopes to start talks with India by the end of the year for additional sales of its Rafale fighter jet, before full negotiations in 2018, Chief Executive Eric Trappier said in Geneva on Sunday.

He also said the company was awaiting more information on Canada's search for fighter planes.

Canada said on Thursday it was reviewing plans to buy military equipment from Boeing (NYSE:BA) Co BA.N after the U.S. planemaker launched a trade complaint alleging that Canada's Bombardier Inc BBDb.TO had dumped jets into the U.S. market. November, Canada said it wanted to buy 18 Boeing Super Hornets as a stopgap measure while it prepared a competition to replace its aging fleet of fighter jets.

According to industry sources, the Canadian government has also held talks with Eurofighter AIR.PA , Lockheed Martin (NYSE:LMT) LMT.N and Saab SAABb.ST .

"We are in a phase where I do not know (...) if they are still in a tender in which we are a part or if they are negotiating on a one-to-one basis," Trappier told Reuters on the sidelines of the Ebace business aviation fair.

In India, where Dassault Aviation signed a long-awaited contract for 36 Rafale fighter jets in September 2016, Trappier said it was working on an additional order for the air force as well as a tender for 57 planes for the navy.

Boeing is also competing the Indian naval deal.

"There is no negotiation, we are not there yet: we are waiting for a one-to-one discussion," Trappier said, hoping to start talks this year before full-fledged negotiations in 2018.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.