LINKÖPING, Sweden--(BUSINESS WIRE)--Regulatory News:
SAAB AB (STO:SAABB)
Defence and security company Saab has today extended its support and maintenance agreement with FMV for the SK60 trainer aircraft of the Swedish Armed Forces. The contract will be in place for three years starting on 1 July 2017. The order value amounts to SEK400 million.
The extended support agreement means that Saab continues its leading role as the provider of training aircraft flight services for the Swedish Armed Forces. Saab maintains full responsibility for Sweden’s fleet of SK60 aircraft by delivering all required flight operations, maintenance and the provision of stand-by capacity to the Armed Forces. Since December 2008 Saab has ensured that the SK60 system is fully airworthy and available at Swedish Air Force wings, in accordance with Swedish Armed Forces' requirements. This latest agreement continues this key flight operations support function for Saab until 2020.
"The extended contract is a comprehensive undertaking whereby we ensure the complete readiness of the SK60 fleet. We provide guaranteed flight hours at a fixed cost, in what is known as a ‘power-by-the-hour’ agreement. The contract is a confirmation of our ability to deliver a complete support solution over a product's entire lifecycle and it also guarantees availability for the customer," says Jonas Hjelm, head of Saab's business area Support and Services.
SK60 is the Swedish military designation for the Saab 105, a twin-engined jet aircraft which made its maiden flight in 1963. Since 1967 SK60s have served as the principal jet training aircraft for Swedish military pilots. The aircraft have been continually modernised and upgraded over their many years of reliable service.
Saab serves the global market with world-leading products, services and solutions within military defence and civil security. Saab has operations and employees on all continents throughout the world. Through innovative, pragmatic and collaborative work, Saab constantly develops, adapts and improves new technology to meet the changing requirements of customers.
The information is that which Saab AB is required to declare by the Securities Business Act and/or the Financial instruments Trading Act. The information was released for publication on 16 October 2015 at 08.00.
This information was brought to you by Cision http://news.cision.com