The Czech Republic will take out a 58.5 billion koruna ($1.6 billion) loan to pay for 24 Saab/BAE Systems Gripen fighters, plus another worth 18.4bn koruna for spare parts and hardware, following a recent government decision. The government accepted favourable credit financing terms (a 15-year schedule of payments) offered by BAE Systems and approved a draft of a new law that would provide state guarantees for the loans. However, the final decision rests with parliament, where the deal may meet resistance. According to local press reports, Saab/BAE hopes to sign the contract by mid-April. The first Gripens are to be delivered in 2004.
Source: Flight International
