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InvestmentsCanada tells Boeing its bid for C$19 billion fighter jet contract falls...

Canada tells Boeing its bid for C$19 billion fighter jet contract falls short

© Reuters. FILE PHOTO: The Boeing brand is pictured on the Latin American Business Aviation Conference & Exhibition honest (LABACE) at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker/File Photo

By David Ljunggren

OTTAWA (Reuters) -In a shock transfer, Canada has advised Boeing (NYSE:) Co that its contender for a multi-billion greenback fighter jet contract doesn’t meet the required customary, a protection supply stated on Thursday.

This means solely Lockheed Martin Corp (NYSE:) and Sweden’s Saab AB are left within the race to produce 88 jets. Ottawa says it intends to decide subsequent 12 months on a contract that may very well be price as much as C$19 billion ($15 billion).

Boeing had entered its F-18 Super Hornet. The Canadian Press was the primary the report the information.

Defense analysts had been sure Ottawa would exclude Saab’s Gripen aircraft. Unlike Canada, Sweden is neither a member of NATO or NORAD, the North American protection group.

Canada belongs to the consortium that developed Lockheed Martin’s F-35 jet, which protection sources say is the popular alternative of the air pressure.

The competitors is being overseen by the workplace of Procurement Minister Filomena Tassi, which didn’t reply to a request for remark.

Lockheed Martin declined to remark. No one at Saab was obtainable for remark. Boeing spokesman Paul Lewis stated by electronic mail that the corporate would reserve remark pending official notification from Ottawa.

Boeing clashed with Canada in 2017 after it complained Ottawa was unfairly subsidizing a passenger jet made by Montreal-based rival Bombardier (OTC:).

Canada responded by saying it might look much less favorably on a fighter jet bid from an organization that had harmed nationwide pursuits, however nonetheless allowed Boeing to participate.

The Liberals took energy in 2015 vowing to not purchase the F-35 on the grounds that it was too pricey, however have since softened their line.

Canada has been attempting unsuccessfully for greater than a decade to exchange its getting older F-18 fighters. The former Conservative administration stated in 2010 that it might purchase 65 F-35 jets however later scrapped the choice, triggering years of delays and opinions.

($1 = 1.2649 Canadian {dollars})

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