Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek


Filed under: News | Latest Business News


Gripen Fighter Jets Purchased Blocked by Swiss Voters

Switzerland has a very direct democracy. Last weekend the Swiss could vote on minimum wage and on a fighter jet purchase. Both proposals fell through.

May 19 2014, 1:24am CDT | by

1 Updates
Gripen Fighter Jets Purchased Blocked by Swiss Voters
Photo Credit: Getty Images

YouTube Videos Comments

Full Story

Gripen Fighter Jets Purchased Blocked by Swiss Voters

Saab management had to stomach a defeat by Swiss voters on Sunday. Saab had a deal on the table to sell Switzerland 22 Gripen Fighter Jets, a deal worth $3.5 billion. The Swiss government wanted to replace their again Northtrop F-5 Tiger jets with a new fleet. 

Swiss voters did though not like to cut budgets on other important issues in order to get new planes. Given that Switzerland is really very small, they should rather get some helicopters to defend their air space.

Saab also reacted to the vote in Switzerland. In a statement the company said that the voting result means that the Gripen E procurement process in Switzerland stops. For Saab, the Gripen E program continues according to plan, with development and production of 60 Gripen E for Sweden ongoing and deliveries scheduled for 2018.

“Our focus is helping countries protect their ways of life, which we do by serving the global market with world-leading products, including Gripen. We have seen in Switzerland support for Gripen, including through its evaluation and selection over competitors and in the votations in the Swiss Parliament last year,” says Håkan Buskhe, President and CEO of Saab.

“We respect the process in Switzerland and do not comment on today’s outcome in the referendum. Following selection in 2011, hundreds of business relationships in Switzerland have been created through the Swiss Industrial Participation program, which was created in relation to the Gripen E procurement. These are relationships we look forward to continuing as long as possible,” adds Håkan Buskhe.

The Swiss also voted down what would have been the highest minimum wage in the world. Swiss could have voted for a minimum wage of $25. Via Reuters .


iPad Air Giveaway. Win a free iPad Air.

You Might Also Like


Sponsored Update


More From the Web

Shopping Deals


<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at




blog comments powered by Disqus

Latest stories

Dustin Brown Quips Disgrunted Rangers FedEx Driver
Dustin Brown Quips Disgrunted A FedEx Rangers Fan
Sometimes a little snark's needed. Like when your FedEx driver's a little bitter the New York Rangers didn't win the Stanley Cup this year.
Ariana Grande Covers Seventeen Magazine&#039;s September Issue
Ariana Grande Covers Seventeen Magazine's September Issue
The Pop Star Also Opens Up About Falling Out With Her Dad.
ESPN Suspends Stephen A. Smith Over Ray Rice Comments
ESPN Suspends Stephen A. Smith Over Ray Rice Comments
ESPN suspended "First Take" mainstay Stephen A. Smith on July 29 for his comments on the Ray Rice controversy.
Beastie Boys 25th Anniversary Mural Finished
Beastie Boys 25th Anniversary Mural Finished
The Painting Celebrates When "Paul's Boutique" hit the streets on July 25, 1989.

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.