Key Takeaways:
Sweden will donate 16 Saab Gripen fighter jets to Ukraine and sell up to 20 more, marking the Nordic country's largest single defense commitment since Russia's 2022 invasion.
Sweden agreed to provide Ukraine with as many as 36 Saab Gripen fighter jets, combining an immediate donation of 16 older C/D models with a purchase agreement for up to 20 next-generation E/F variants, Prime Minister Ulf Kristersson and President Volodymyr Zelensky said Thursday at Uppsala Air Base.
"Gripen is the best and optimal choice for Ukraine. So today, we take the next major step on this joint journey," Kristersson said at the joint press conference, where two Gripen jets were on display.
The donation of aircraft, missiles and pilot training is valued at about 22 billion Swedish kronor ($2.37 billion), with an additional 3 billion kronor allocated for electronic warfare capabilities, innovation support and other measures. Ukraine plans to allocate roughly €2.5 billion ($2.91 billion) from the European Union's €90 billion Ukraine Support Loan — approved April 23 after months of deadlock — to finance the purchased jets. Saab AB shares rose 5.7% to 567.20 kronor in Stockholm trading, the biggest gainer on Europe's Stoxx 600 index.
The deal brings Sweden's total military and civilian aid to Ukraine since the war began to 128 billion kronor, Kristersson said. The donated Gripen C/D aircraft could begin flying combat missions over Ukraine as early as next year, while deliveries of the new Gripen E models are expected before 2030. "We will buy all 150 jets," Zelensky told reporters, referring to a broader letter of intent signed last year that envisioned Kyiv acquiring up to 150 aircraft over time.
Why Gripen matters for Ukraine's air war
Ukraine's current Western fighter fleet consists of about 37 donated Lockheed Martin F-16A/Bs from Denmark, Norway, the Netherlands and Sweden, plus fewer than 10 Dassault Mirage 2000-5Fs from France — all 1990s-era platforms that Ukrainian Air Force officials say are less suited to the country's operating conditions than the Gripen. The Swedish fighter is designed for short-runway operations, rapid ground-crew turnaround and lower per-flight-hour costs than comparable NATO aircraft, making it viable for dispersed basing from ordinary roads.
The Gripen C/D models being donated carry missiles with a range exceeding 200 kilometers (124 miles), which Zelensky said would help "push Russian aircraft farther away so they cannot use guided aerial bombs against us." Russia's air force outnumbers Ukraine's by about eight to one overall, and by roughly four or five to one in aircraft actively participating in combat operations, according to open-source assessments.
Saab's production pipeline and the replacement cycle
Saab has delivered five of the 60 Gripen E models ordered by the Swedish Air Force, with first deliveries beginning in October 2025. The company's planned annual output of the JAS 39E is expected to rise to between 20 and 36 aircraft. Brazil is manufacturing the Gripen E/F locally under license, with 11 of a 36-aircraft order delivered to date, while Colombia and Thailand have ordered 17 and four aircraft, respectively.
Sweden will purchase new Gripen aircraft to replace the 16 donated to Ukraine, effectively expanding Saab's order backlog. "We look forward to supporting Ukraine's acquisition of Gripen and the Swedish authorities in replacing the donated aircraft," Saab Chief Executive Micael Johansson said, calling it a "big day for the company." Saab has not yet received a formal contract or firm order for the Ukrainian jets, the company noted.
The last time Sweden transferred advanced Western fighter jets to a non-NATO partner was during the Cold War era, when it supplied Saab 35 Drakens to Denmark, Finland and Austria. The current deal represents a structural shift in Nordic defense posture, with Sweden — which joined NATO in March 2024 — now directly arming a partner nation against Russian aggression. The broader European defense sector has rallied this year as NATO-aligned countries increase military spending, with the Stoxx Europe Aerospace & Defense Index up roughly 18% year-to-date.
This article is for informational purposes only and does not constitute investment advice.
