INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Switzerland to buy 36 US F-35 stealth fighter jets for $6.2 billion

The F-35s will be delivered to Switzerland between 2027 and 2030. (AFP)
  • Switzerland joins a growing number of European countries which have opted for the stealth multi-role combat aircraft, including Belgium, Britain, Denmark, Finland.
  • Swiss voters had narrowly approved in September 2020 spending 6 billion Swiss francs to replace the country's fleet of ageing fighter jets

Switzerland signed a controversial contract on Monday to buy 36 US F-35 stealth fighter jets at a cost of more than six billion francs ($6.2 billion).

“National Armaments Director Martin Sonderegger and the Swiss F-35A Program Manager Darko Savic signed the procurement contract on 19 September 2022 at armasuisse in Bern,” said armasuisse, the country’s arms procurement agency.

“With this, the procurement of 36 F-35A is contractually agreed,” it added.

The selection of the F-35 by the Swiss government in June 2021 sparked some controversy, particularly in light of the cost-overruns of the fighter program in the United States.

But a Swiss parliamentary investigation did not call into question the selection of the fighter.

The Swiss government and parliament also short-circuited holding a referendum on the plane’s purchase despite enough signatures being collected to put the issue to voters, saying there was not enough time to do so before manufacturer Lockheed Martin’s offer expires.

But Swiss voters had already narrowly approved in September 2020 spending six billion Swiss francs to replace the country’s fleet of ageing F/A-18 Hornets and F-5 Tigers.

The F-35s will be delivered between 2027 and 2030.

Switzerland joins a growing number of European countries which have opted for the stealth multi-role combat aircraft, including Belgium, Britain, Denmark, Finland, Italy, Greece, Germany, the Netherlands, Norway, and Poland.