Financing of new fighter jets approved

JAS-39 Gripen fighters, photo: www.army.cz

The lower house of the Czech parliament has approved spending revenues from privatisation of state assets on the purchase of 24 new fighter jets for the Czech Air Force, which is the country's biggest military contract to date. The measure has yet to be approved by the Senate, and ratified by President Vaclav Havel.

The lower house of the Czech parliament has approved spending revenues from privatisation of state assets on the purchase of 24 new fighter jets for the Czech Air Force, which is the country's biggest military contract to date. The measure has yet to be approved by the Senate, and ratified by President Vaclav Havel.

On April 22, the Cabinet unanimously agreed to buy 24 JAS-39 Gripen fighters made by Sweden's Saab and Britain's BAE Systems in a deal worth 52.5 billion CZK (or around 1.6 billion USD). Weaponry is expected to cost an additional 200 million dollars.

The parliament also approved a loan of 33 billion crowns that would be sought if the privatisation revenues fail to cover the costs.