BAE Systems set for £1.3bn boost from German Eurofighter deal November 12, 2020 Defence giant BAE Systems will receive a £1.3bn windfall from the German government’s purchase of 38 Eurofighter jets, it was confirmed today. Last week German officials announced the deal, which is worth around €5.4bn in total. The FTSE 100 company is part of an Airbus-led consortium which builds the jet fighter. The Times yesterday reported [...]
New fighter jet can support 20,000 jobs, says BAE Systems October 15, 2020 BAE Systems has said that its new fighter jet could support 20,000 jobs in the UK as it seeks to make the case for the new combat air system. The Tempest programme, which is being delivered by the FTSE 100 company alongside a consortium of defence giants, is also predicted to contribute £25.3bn to the [...]
BAE Systems posts weaker half-year profit as it predicts stronger end to 2020 July 30, 2020 BAE Systems posted weaker profit for its coronavirus-struck first half of the year today, despite an increase in revenue. The figures Profit before tax fell 11 per cent to £689m in the six months to 30 June compared to the same period in 2019. Meanwhile revenue inched up five per cent to £9.18bn year on [...]
BAE Systems warns of drop in first half profit amid coronavirus disruption June 25, 2020 BAE Systems first-half profit will be about one-sixth down on last year, after the coronavirus pandemic hit the defence giant. The company said that it still enjoyed strong demand for its defence products which make up the vast majority of its business. However, its manufacturing lines have faced disruption amid the lockdown, it said this [...]
BAE Systems sees profits rise as aircraft contracts pay off February 20, 2020 Defence giant BAE Systems posted an 18 per cent increase in profit in 2019 as the firm said work on F-35 fighter jets and its Qatar Typhoon contract would help earnings to grow by a mid-single digit percentage next year. Shares in the company had increased over 2.5 per cent by midday. The figures Operating [...]
BAE Systems to buy Collins GPS business for $2bn January 20, 2020 Leading aerospace and defence company BAE Systems has this morning announced that it will purchase Collins Aerospace’s military GPS system for almost $2bn (£1.5). BAE say that the GPS business, which is considered a market leader, should generate revenues of $359m a year in 2020, with potential for growth of 10 per cent a year. [...]
BAE Systems faces accusations of ‘aiding and abetting’ alleged Saudi war crimes in Yemen December 12, 2019 BAE Systems has been accused of having contributed to alleged war crimes in the conflict in Yemen by a group of human rights organisations, in a complaint to the International Criminal Court (ICC). The European Centre for Constitutional and Human Rights (ECCHR) has submitted a 300-page document accusing European arms executives at firms such as [...]
BAE Systems enjoys profit hike after streamlining operations July 31, 2019 BAE Systems shares rose this morning as Britain’s biggest defence company reported a nine per cent increase in first half earnings. The firm said “a number of operational improvements” had driven the growth, including pushing on with delivering Typhoon and Hawk fighter jets to the Qatari government. The defence giant’s market value rose two per cent [...]
FTSE 100 bosses to meet President Donald Trump during UK state visit May 31, 2019 A group of FTSE 100 chiefs will meet US President Donald Trump during his state visit to the UK next week, Sky News has reported, along with the heads of various US companies. Read more: European stock markets bleed red as Trump takes trade war to Mexico The bosses of Barclays, National Grid, BAE Systems, [...]
BAE Systems working with government to continue Saudi arms deal despite German ban May 9, 2019 Defence giant BAE Systems is working with the government to find a way to continue servicing Saudi Arabia's fleet of Eurofighter Typhoon military jets, despite Germany extending a ban on arms deals with the Gulf kingdom. Read more: German ban on Saudi arms looms large for defence giant BAE Systems The ban, which was originally imposed [...]