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20 April 2024

UAE finalises Dh12.4bn deals on third day

By Nissar Hoath & Abdelhai Mohamad

The UAE yesterday announced finalising deals with Lockheed Martin and Boeing for 16 military transport aircraft – four Boeing C-17s and 12 C130J Super Hercules airlifters.

The UAE has struck contracts in the tune of Dh12.4 billion on the third day of the ninth International Defence Conference and Exihibition, Idex Spokesperson Staff Major General Obaid Al Ketbi announced yesterday.

Briefing the media at the exhibition, he said the contracts for purchasing the 16 aircraft have been signed and finalised with Lockheed Martin and Boeing.

He also said deliveries of the 16 aircraft may take from three to four years. Al Ketbi said the UAE Armed Forces yesterday concluded a number of deals with a total value of Dh12.3 billion, including the two contracts, at the Idex.

"To meet the requirements of the UAE Armed Forces, with regards to strategic and tactical air transport, and to actively participate in rescue and humanitarian missions worldwide, Al Waha Capital has been assigned to purchase the aircraft and arrange the finance," he told a press conference.

He said total value of the two deals is Dh11bn that will be raised through Waha Capital. It includes the procurement of advanced 12 C-130J Super Hercules from Lockheed Martin along with four C17 military transportation jets from Boeing.