ANL 33.20 Decreased By ▼ -1.15 (-3.35%)
ASC 15.43 Increased By ▲ 1.03 (7.15%)
ASL 23.86 Decreased By ▼ -0.14 (-0.58%)
AVN 89.25 Decreased By ▼ -2.20 (-2.41%)
BOP 7.78 Increased By ▲ 0.08 (1.04%)
BYCO 9.71 Increased By ▲ 0.07 (0.73%)
DGKC 115.00 Decreased By ▼ -0.50 (-0.43%)
EPCL 50.50 Decreased By ▼ -0.51 (-1%)
FCCL 23.40 Increased By ▲ 0.10 (0.43%)
FFBL 26.40 Increased By ▲ 0.40 (1.54%)
FFL 16.18 Increased By ▲ 0.28 (1.76%)
HASCOL 9.29 Increased By ▲ 0.29 (3.22%)
HUBC 79.00 Increased By ▲ 0.05 (0.06%)
HUMNL 6.10 Decreased By ▼ -0.15 (-2.4%)
JSCL 20.40 Increased By ▲ 0.24 (1.19%)
KAPCO 40.21 Increased By ▲ 0.05 (0.12%)
KEL 3.90 Decreased By ▼ -0.09 (-2.26%)
LOTCHEM 14.20 Decreased By ▼ -0.15 (-1.05%)
MLCF 44.50 Decreased By ▼ -0.50 (-1.11%)
PAEL 32.27 Decreased By ▼ -0.27 (-0.83%)
PIBTL 9.99 Increased By ▲ 0.15 (1.52%)
POWER 8.80 Decreased By ▼ -0.05 (-0.56%)
PPL 82.80 Increased By ▲ 1.21 (1.48%)
PRL 24.95 Increased By ▲ 1.31 (5.54%)
PTC 9.26 Increased By ▲ 0.04 (0.43%)
SILK 1.35 Decreased By ▼ -0.02 (-1.46%)
SNGP 43.68 Increased By ▲ 1.88 (4.5%)
TRG 182.80 Increased By ▲ 4.62 (2.59%)
UNITY 41.25 Increased By ▲ 2.87 (7.48%)
WTL 1.68 Decreased By ▼ -0.01 (-0.59%)
BR100 4,959 Increased By ▲ 32.4 (0.66%)
BR30 25,887 Increased By ▲ 233.44 (0.91%)
KSE100 45,982 Increased By ▲ 191.46 (0.42%)
KSE30 18,826 Increased By ▲ 108.77 (0.58%)

Coronavirus
VERY HIGH
Pakistan Deaths
19,752
13524hr
Pakistan Cases
882,928
256624hr
Sindh
299,913
Punjab
328,775
Balochistan
23,931
Islamabad
79,371
KPK
127,224

OTTAWA: Aerospace giant Airbus announced Friday that it is withdrawing from a Canadian government call for proposals to replace 88 aging fighter jets.

The contract is reportedly valued at a minimum Can$15 billion (US$11.4 billion).

The company announced in a statement with Britain's Defense Ministry that the Typhoon fighter presented by the Eurofighter consortium would no longer be among the candidates.

The statement cited two factors for the decision, the first of which was that security requirements from the joint US-Canadian North American Aerospace Defense Command (NORAD) were too expensive.

"NORAD security requirements continue to place too significant of a cost on platforms whose manufacture and repair chains sit outside" the United States and Canada, the statement said.

The new aircraft's central role will be to patrol North American air space with the US Air Force under NORAD.

Additionally, "the significant recent revision of industrial technological benefits (ITB) obligations does not sufficiently value the binding commitments the Typhoon Canada package was willing to make, and which were one of its major points of focus," the statement said.

Airbus's withdrawal leaves the field open to three other candidates: Saab's Gripen, Lockheed Martin's F-35 and Boeing's F/A-18 Super Hornet.

France's Dassault Aviation took its Rafale out of the running in November because of technical requirements tied to Canada's membership in the "Five Eyes" signals intelligence sharing group of nations that the company could not meet, sources told AFP.

The Five Eyes group is comprised of Canada, the United States, Britain, Australia and New Zealand.

The defense contractors have until the spring of 2020 to submit initial proposals with a contract award due in early 2022 and delivery expected in 2025.

Copyright AFP (Agence France-Press), 2019