On November 5, 2024, Reuters reported, citing Swedish public radio SR's Ekot news broadcast, that Colombia plans to purchase a fleet of JAS Gripen fighter aircraft from Sweden's Saab AB. This development marks a significant step for Colombia in modernizing its air force, moving away from its aging fleet of Kfir fighter jets, which are nearing the end of their service life. The Gripen, known for its versatility and cost-effectiveness, has been eyed by Colombia as a replacement for the Israeli-made Kfirs, which have been in service since 1989.
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While the exact number of aircraft to be acquired was not disclosed, Saab's interest in expanding its market share in Latin America has been well-documented. The company has already set up a production base in Brazil in collaboration with Embraer SA, aiming to leverage this partnership for sales in the region, including potential deals with Colombia and Peru. Saab's Gripen fighter jets offer advanced features like supersonic speed, and multi-role capabilities for air-to-air and air-to-surface combat, and are known for their low operational costs. These attributes make the Gripen an attractive option for countries looking to upgrade their air forces without the steep costs associated with other high-end fighters.
The move to purchase Gripen jets comes after Colombia's previous negotiations for fighter jets stalled. In 2022, talks with both Saab and French manufacturer Dassault Aviation fell through, primarily over issues related to the scale of the order and financial terms. Colombia's Defence Minister, Ivan Velasquez, has not confirmed the purchase officially, stating, "There's still nothing definitive, there are many rumors, there's no statement from the government." However, he assured that any decision made by the president would be communicated in due time.
This potential acquisition aligns with Colombia's strategic defense objectives to enhance its aerial capabilities and ensure regional stability. Saab's shares saw a positive reaction to the news, with a 3.4% rise in Stockholm, indicating market confidence in the deal's progression. The Gripen's selection by Colombia would not only bolster its national defense but also strengthen Saab's position in the global arms market, particularly in Latin America.