LINKOPING, Sweden, Jan. 30 (UPI) -- Hungary will continue to fly Saab's Gripen fighter under a 10-year, lease-buy agreement with the Swedish government and has extended its contract.
The Gripen, manufactured by Saab, is a multi-role aircraft with a maximum speed of 1,302 mph, a combat range of 500 miles and a ceiling of 50,000 feet.
The lease-buy contract between the two governments, with Saab as subcontractor, was to expire in 2016. Under the extension signed Monday, it will expire in 2026.
"We are delighted that Hungary has taken a long-term strategic decision to continue operating Gripen and has thereby chosen to continue in partnership with Sweden and other Gripen operators," said Ulf Hammarstrom, Swedish Defense and Security Export Agency director.
The lease-buy agreement, with a later modification, was for 14 Gripens, all of which were delivered by the end of 2008.
"The news that Hungary extends the Gripen contract by 10 years is extremely positive," said Lennart Sindahl, Saab's executive vice president and head of its aeronautics business.
"Once again it confirms that Gripen is one of the world's leading fighter aircraft that meets the operational, technical and cost requirements of the market."
