BAE Systems shares falter as firm wins £2.5bn Oman contract

<p>BAE Systems has signed a contract to deliver Hawks and Typhoons to Oman.</p>

Shares in UK aerospace company BAE Systems have fallen this morning (December 21st) as news breaks that the firm has won a £2.5 billion aircraft contract with the Sultanate of Oman.

BAE will manufacture 12 Typhoon fighter jets and eight Hawk Advanced Jet Trainer aircraft, with the deal covering the supply of the aircraft and in-service support for them.

Work will begin in 2014 with the final delivery due in 2017.

The contract – which has been welcomed by prime minister David Cameron – is expected to protect 6,000 high-technology and engineering roles at BAE's facilities at Brough in East Yorkshire and Warton and Samlesbury in Lancashire.

BAE stated: "This contract is further recognition that both Typhoon and Hawk are leading aircraft in their class."

At 09:40 GMT on the London Stock Exchange, shares in BAE Systems slipped by more than two per cent to 340.90p per unit.

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