Boeing to Earn $4.6 Billion in Saudi Sale

Oct. 21, 2010
Boeing will earn $24 billion over the life of the program

Boeing got the go ahead for its sale of $4.6 billion worth of aircraft to Saudi Arabia. "Boeing is pleased that the U.S. government has formally notified Congress of its intent to sell F-15s, Apaches and AH-6i to the Kingdom of Saudi Arabia," the group said.

The total earnings for the sale of its products "is anticipated to be approximately $24 billion" over the lifetime of the program and yearly earnings of $4.6 billion, Boeing said.

Some 77,000 Boeing employees and contractors are to work on the project.

The plan announced allows for the sale of 84 F-15 fighter jets, 70 Apache attack helicopters, 72 tactical Black Hawk helicopters and 36 light helicopters, U.S. officials said.

The delivery of the weapons to Saudi Arabia would be spread over 15 to 20 years.

U.S. defense officials said the deal had been in the works for months with the Saudis, who have grown increasingly anxious about Iran's missile arsenal.

Copyright Agence France-Presse, 2010

Popular Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!