Thursday, March 28, 2024
HomeBusinessNorway takes delivery of Boeing P-8 submarine-hunter aircraft By Reuters

Norway takes delivery of Boeing P-8 submarine-hunter aircraft By Reuters

Date:

Related stories

Essential Tips for Investor Relations Events

Investor Relations (IR) is key to the success of...

Buying a Modern Kitchen Sink: How to Choose a Shop

If you are doing some home renovations, and the...

The Impact of School Districts on Home Sales in Dayton

When selling a home in Dayton, Ohio, several elements...

Elevate Your Everyday: Tips and Insights for Enhancing Your Lifestyle

Introduction With long periods of business experience, Michael's group utilizes...

Beat the Wager: Your Ultimate Guide to Conquering Casino Playthroughs

Are you stuck with those tricky wagering requirements? Trust...


© Reuters. FILE PHOTO: The Boeing logo is seen at their headquarters in Chicago, in this April 24, 2013 photo. REUTERS/Jim Young/File Photo

By Eric M. Johnson

SEATTLE (Reuters) -Norway took delivery on Thursday of the first of five Boeing (NYSE:) Co P-8 maritime patrol aircraft, central to the NATO country’s ability to expand its submarine-hunting capabilities in the strategic “High North” area inside the Arctic Circle.

The five aircraft will replace the Royal Norwegian Air Force’s current fleet of six Lockheed Martin Corp (NYSE:) P-3 Orions and two Dassault Aviation DA-20 Jet Falcons.

The fleet will expand Norway’s maritime capabilities as it sees Russia “fielding some incredibly capable maritime assets,” Major General Odd-Harald Hagen, Norway’s defense attache, said before a ribbon-cutting ceremony on a rain-slicked Boeing Field.

“With a much more assertive Russia in the High North, in the Atlantic, and with a more forward-leaning Russian posture, we are returning to near-peer competition also in the maritime domain,” Hagen said.

Norway will spend roughly 11 billion kroner ($1.25 billion) on the P-8 aircraft, including additional equipment and support, a Norwegian official said. They will be operated at Norway’s Evenes Air Station inside the Arctic Circle

For Boeing, the delivery underscores the importance of its defense business as the U.S. planemaker works to recoup billions of dollars from the overlapping coronavirus and 737 MAX safety crises.

The anti-submarine and anti-surface warfare, surveillance and reconnaissance P-8 is based on Boeing’s 737-800 next- generation commercial jetliner.

Boeing has plans to reduce its monthly production rate of 737-based military derivatives to one aircraft a month from 1.5 beginning in April, the company said on Thursday, citing demand and other factors.

See also  Time for retail revelry - The Financial Express

Deliveries to New Zealand, South Korea and Germany will take place in 2022, 2023 and 2024, respectively, Boeing said.

The remaining four P-8 aircraft for Norway were in “advanced stages of production” and will be delivered in 2022, Boeing said.

As ice caps recede and a broader swath of the Arctic Ocean is more navigable, Norway and other European nations have seen the need to improve sub-hunting and other capabilities to support the NATO mission.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Bellie Brown
Bellie Brownhttps://businesstimes.org
Hi my lovely readers, I am Bellie brown editor and writer of Businesstimes.org. I write blogs on various niches such as business, technology, lifestyle., health, entertainment, etc as well as manage the daily reports of the website. I am very addicted to my work which makes me keen on reading and writing on the very latest and trending topics. One can check my more writings by visiting Cleartips.net

Latest stories