0933 GMT - Leonardo and its partners in the Global Combat Air Programme, which aims at developing a sixth-generation fighter jet, would see their industrial risk reduced if Saudi Arabia joins the project, says Equita analyst Marino De Ambroggi. On Wednesday, Italian Foreign Minister Antonio Tajani and Leonardo's Co-general Manager Lorenzo Mariani said GCAP will be expanded to other countries beyond Japan, Italy and the U.K., probably including Saudi Arabia. This would allow for its costs to be shared, reducing industrial risk, and would guarantee orders from an additional country, De Ambroggi says in a note to investors. The project brings together Leonardo, BAE Systems and Mitsubishi Heavy Industries. Leonardo's shares are up 2% at 25.44 euros, while BAE Systems's trade 0.4% higher at 12.91 pounds. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
November 28, 2024 04:33 ET (09:33 GMT)
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