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Swiss Government Asks Parliament to Approve Gripen Jets Purchase

Date : 11/14/2012 @ 10:23PM
Source : Dow Jones News
Stock : Dassault Aviation (AM)
Quote : 1020.0  -5.0 (-0.49%) @ 9:05PM
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Swiss Government Asks Parliament to Approve Gripen Jets Purchase

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By Marta Falconi

ZURICH--The Swiss government Wednesday formally asked parliament to approve the planned purchase of new fighter jets manufactured by Sweden's Saab Group (SAAB-B.SK).

Parliament will discuss the budget for Switzerland's armed forces, including a credit of 3.12 billion Swiss francs ($3.28 billion) for the purchase of the jets, next year.

A year ago, the Swiss government chose the Swedish Gripen over the French-built Rafale by Dassault Aviation SA (AM.FR) and Eurofighter, made by European Aeronautic Defence & Space Co. (EAD.FR).

The planned purchase has met wide resistance. Some opponents merely contest the type of jet the government plans to buy, while others question outright if Switzerland needs a military air force at all.

If a referendum is called, which seems likely, the Swiss will vote on the purchase in 2014.

Write to Marta Falconi at marta.falconi@dowjones.com

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