Published by Global Banking & Finance Review®
Posted on November 14, 2025
2 min readLast updated: January 21, 2026
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Colombia secures a $3.6 billion contract with Saab for 17 Gripen fighter jets, enhancing its defense capabilities over five years.
(Reuters) -Swedish defense firm Saab said on Friday it has signed a contract worth 3.1 billion euros ($3.62 billion) with the Colombian government to deliver 17 Gripen fighter jets in the next five years.
Saab will deliver 15 Gripen E single-seat and two Gripen F dual-seat fighter jets to Colombia and support military and civilian projects under two offset agreements focused on defense, technology and infrastructure.
The Gripen is a fourth-generation, single-engine supersonic fighter jet built for versatility. Classified as a multi-role aircraft, it is capable of executing air-to-air combat, precision bombing and reconnaissance missions. The jet is widely regarded as a cost-effective alternative to pricier fifth-generation fighters like the F-35.
The commander of Colombia's Aerospace Force, Carlos Silva, said in April that the country planned to buy 16 to 24 Gripens. Colombia had a choice between the JAS 39 Gripen, French Dassault-made Rafale <AM.PA>, and U.S. firm Lockheed Martin's F-16 <LMT.N> jets.
Neighbor Brazil has already purchased 36 JAS 39 Gripen jets from SAAB and built an assembly plant for the aircraft in the country in partnership with SAAB.
($1 = 0.8575 euros)
(Reporting by Mrinmay Dey in Bengaluru; Editing by Tasim Zahid and Leslie Adler)
The Gripen is a fourth-generation, single-engine supersonic fighter jet designed for versatility in military operations, including air-to-air combat and reconnaissance.
Offset agreements are arrangements where a seller agrees to invest in the buyer's country as part of a contract, often to promote local industry and technology.
Military technology refers to the tools, equipment, and systems used by armed forces to enhance their capabilities in defense and combat operations.
A multi-role aircraft is designed to perform various types of missions, such as air-to-air combat, ground attack, and reconnaissance, making it versatile for different military needs.
Offsets in defense contracts are commitments made by contractors to invest in the local economy or provide technology transfer as part of a deal.
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