Swedish Saab lost a $3.5 billion fighter jet deal with Switzerland, after a national referendum rejected it.
Swedish Saab lost a $3.5 billion fighter jet deal with Switzerland, after a national referendum rejected it.
The referundum opposed the Swiss decision in 2011 to procure 22 Gripen E fighter jets. About 53.4% of Swiss voters voted against the purchase, while 40 per cent supported.
Gripen opponents argued that the procurment cost could be spent on education, transport or pensions.
Following selection in 2011, Saab made over 500 contracts with 125 Swiss businesses as part of offsets.
The Gripen E was selected as a cheaper alternative to the Eurofighter Typhoon and Dassault Rafale.
