21 décembre 2022 | Local, Aérospatial

Analysis: Canada’s price tag for F-35 jets raising questions

A $7 billion price tag for 16 jets stands in contrast to what some of Canada’s allies are paying for the exact same plane.

https://ottawacitizen.com/news/national/defence-watch/analysis-canadas-price-tag-for-f-35-jets-raising-questions

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  • Saudi Arabia and the Canadian Arms Lobby

    15 novembre 2018 | Local, Terrestre

    Saudi Arabia and the Canadian Arms Lobby

    by Yves Engler Will they cancel the contract or won't they? In order to understand Ottawa's decision making process regarding General Dynamics' massive arms deal with Saudi Arabia one must look closely at industry lobbyists. While the Trudeau government is under substantial public pressure to rescind the $15 billion Light Armored Vehicle sale, to do so would challenge the company and the broader corporate lobby. Last week a senior analyst with the GD-financed Canadian Global Affairs Institute boldly defended the LAV sale. "There has been no behavior by the Saudis to warrant canceling this contract", said David Perry to the London Free Press. Perry must have missed the Kingdom's violence in Yemen, repression in eastern Saudi Arabia and consulate murder in Istanbul. Two weeks ago Perry told another interviewer that any move to reverse the LAV sale would have dire consequences. "There would be geopolitical implications. There would be a huge number of economic implications, both immediately and in the wider economy... canceling this, I think, would be a big step because as far as I understand the way that we look at arms exports, it would effectively mean that we've changed the rules of the game." Amidst an earlier wave of criticism towards GD's LAV sale, the Canadian Global Affairs Institute published a paper titled "Canada and Saudi Arabia: A Deeply Flawed but Necessary Partnership" that defended the $15-billion deal. At the time of its 2016 publication at least four of the institute's "fellows" wrote columns justifying the sale, including an opinion piece by Perry published in the Globe and Mail Report on Business that was headlined "Without foreign sales, Canada's defense industry would not survive." Probably Canada's most prominent foreign policy think tank, Canadian Global Affairs Institute is a recipient of GD's "generous" donations. Both GD Land Systems and GD Mission Systems are listed among its "supporters" in recent annual reports, but the exact sum they've given the institute isn't public. The Conference of Defence Associations Institute also openly supports GD's LAV sale. Representatives of the Ottawa-based lobby/think tank have writtencommentaries justifying the LAV sale and a 2016 analysis concluded that "our own Canadian national interests, economic and strategic, dictate that maintaining profitable political and trade relations with ‘friendly' countries like Saudi Arabia, including arms sales, is the most rational option in a world of unpleasant choices." Of course, the Conference of Defence Associations Institute also received GD money and its advisory board includes GD Canada's senior director of strategy and government relations Kelly Williams. Full article: https://original.antiwar.com/yves_engler/2018/11/13/saudi-arabia-and-the-canadian-arms-lobby/

  • CYBERSÉCURITÉ - CERCLE DE PARTAGE DE BONNES PRATIQUES

    4 avril 2023 | Local, Aérospatial, C4ISR

    CYBERSÉCURITÉ - CERCLE DE PARTAGE DE BONNES PRATIQUES

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  • Seaspan Announces Closing of Second $500 Million Investment by Fairfax Financial Holdings Limited

    16 janvier 2019 | Local, Naval

    Seaspan Announces Closing of Second $500 Million Investment by Fairfax Financial Holdings Limited

    HONG KONG, Jan. 15, 2019 /CNW/ - Seaspan Corporation (NYSE: SSW) ("Seaspan") announced today the closing of the second tranche of the $1 billion aggregate investment commitment by Fairfax Financial Holdings Limited and its affiliates (collectively, "Fairfax") in Seaspan. As with Fairfax's initial $500 million investment in Seaspan, and pursuant to definitive agreements entered into on March 13, 2018 and announced on March 14, 2018, this second tranche of funding (the "Second Fairfax Investment") is structured as a $250 million issuance of (i) 5.50% senior notes due 2026 and (ii) approximately 38.46 million warrants (the "2019 Warrants"). Pursuant to a definitive agreement entered into and announced on May 31, 2018, Fairfax has agreed to immediately exercise the 2019 Warrants at an exercise price of $6.50per warrant, for additional equity proceeds to Seaspan of $250 million. As a result, Seaspan's aggregate proceeds from the Second Fairfax Investment will be $500 million. This brings Fairfax's total investment in Seaspan to $1 billion, the proceeds of which will be used to fund future growth initiatives, repay debt and for general corporate purposes. With the closing of the Second Fairfax Investment, Fairfax's aggregate shareholdings in Seaspan are 76.9 million Class A common shares or approximately 36% of shares outstanding. Fairfax continues to hold the 25 million seven year warrants, with an exercise price of $8.05, which were issued to it on July 16, 2018. Summary of Fairfax Investments1 Investment Date Issued/Exercised Proceeds to Seaspan 2025 Notes February 14, 2018 $250 million 2018 Warrants July 16, 2018 $250 million 2026 Notes January 15, 2019 $250 million 2019 Warrants January 15, 2019 $250 million 1 Does not include the 25 million seven year warrants outstanding as of the date hereof David Sokol, Chairman of Seaspan Corporation commented, "The closing of this follow-on Fairfax investment bolsters Seaspan's balance sheet for the future. Seaspan's management team and Board of Directors are proud to continue building upon the strong partnership created with Fairfax. This additional investment will enhance Seaspan's ability to execute on our long-term goals of deleveraging, strengthening our balance sheet, and creating value through disciplined and thoughtful capital allocation." Prem Watsa, Chairman and Chief Executive Officer of Fairfax said, "With the closing of this investment, we are excited to expand our partnership with Seaspan, which now represents one of Fairfax's largest investments." About Seaspan Seaspan is a leading independent charter owner and operator of containerships with industry leading ship management services. We charter our vessels primarily pursuant to long-term, fixed-rate, time charters to the world's largest container shipping liners. Seaspan's operating fleet consists of 112 containerships with a total capacity of more than 900,000 TEU, an average age of approximately 6 years and an average remaining lease period of approximately 4 years, on a TEU-weighted basis. Seaspan has the following securities listed on The New York Stock Exchange: Symbol: Description: SSW Class A common shares SSW PR D Series D preferred shares SSW PR E Series E preferred shares SSW PR G Series G preferred shares SSW PR H Series H preferred shares SSW PR I Series I preferred shares SSWN 6.375% senior unsecured notes due 2019 SSWA 7.125% senior unsecured notes due 2027 SSW25 5.500% senior notes due 2025 About Fairfax Financial Holdings Limited Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Investor Inquiries: Mr. Matt Borys Investor Relations Seaspan Corporation Tel. +1-778-328-5340 Email: mborys@seaspanltd.ca SOURCE Seaspan Corporation https://www.newswire.ca/news-releases/seaspan-announces-closing-of-second-500-million-investment-by-fairfax-financial-holdings-limited-848167000.html

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