Sweden has concluded an agreement to sell four Gripen fighter jets to Thailand in a deal worth about 5.3 billion Swedish crowns ($556 million).
The Swedish Defence Materiel Administration (FMV), which announced the deal on Monday, said the move would strengthen the long-term prospects of the country’s military aircraft industry.
“This strengthens the long-term development opportunities for Swedish warplanes,” FMV Director-General Mikael Granholm said in a statement.
Under the contract, Saab will supply three Gripen E jets and one Gripen F model, along with equipment, training, and support services. Deliveries are scheduled between 2025 and 2030.
Thailand already operates a squadron of Gripen C/D fighters, and the new acquisition is expected to further enhance its air fleet.
Following the announcement, shares of Saab rose by 3% in late morning trading on Monday.
