Loss of 2000 skilled jobs is tragic for the UK economy, but it does look as if there is a finite demand globally for the Typhoon. We were in India in December and saw the Indian navy has loaded up on the latest MiGs. Also, it looks as if BAE is missing out on the fierce arms race evolving in Asia, focusing instead on the US market and Europe, plus reliable UK government contracts. Still, the City liked the August results out of BAE and the latest news does not seem to have shaken the share price up too much, which is up over 12% against last October.
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