As part of the Rafale campaign for the renewal of Portugal’s F-16 fleet, Dassault Aviation has concluded a memorandum of understanding with the AED Cluster Portugal, the national association of aeronautical, space and defense industries.
The signature comes following the submission of a Rafale offer to the Portuguese government in July 2026.
Published on Sep 24, 2026 at 08:28
Memorandum of understanding signed at the French Embassy in Lisbon
On September 23, 2026, Dassault Aviation, acting on behalf of its Rafale program partners, Thales and Safran, signed a memorandum of understanding with the AED Cluster Portugal. This Portuguese association brings together more than 180 members, including companies, universities and research institutes.
The signature took place at the French Embassy, in the presence of the Ambassador of the French Republic to Portugal, Mr. Asvazadourian.
Cooperation with the Portuguese industrial sector
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The memorandum aims to explore potential areas of cooperation between the Rafale program partners and the Portuguese industrial sector, in the context of the renewal of the Portuguese Air Force’s F-16 fleet.
According to Dassault Aviation, the agreement reflects the commitment of the Rafale program partners already established in the country to build on existing relationships and deepen cooperation with AED and Portuguese industrial partners.
Following the submission of a Rafale offer in July
This agreement follows the official submission of a Rafale offer to the Portuguese government and the Portuguese Air Force in July 2026.
Dassault Aviation indicates that the approach aims to boost the Portuguese economy and strengthen the country’s sovereignty.
Key reported figures
Revenue:
4 157 millions d’euros
Quarterly revenue:
4 157 millions d’euros
Revenue growth:
45,7 %
Net income:
361,6 millions d’euros
-10 099 millions d’euros
Guidance from the release
La guidance 2026 est inchangée : chiffre d’affaires 2026 en hausse
Risks mentioned
Carnet de commandes en léger repli (45,4 Md€ vs 46,6 Md€) malgré la livraison de 23 Falcon au S1 2026
Arrêt du programme SCAF/NGF en coopération franco-allemande, avec alternative à définir
Réduction des prises de commandes Défense (1 024 M€ vs 7 172 M€) liée à l’absence de nouvelle grande commande Rafale
Opportunities identified
Accélération de la livraison de Rafale Export : 12 Rafale livrées au S1 2026 (10 Export + 2 France) vs 7 au S1 2025
Négociation pour contrat de 114 Rafale avec l’Inde (Decision d’entrer en négociation gré à gré)
Programme Falcon 10X en phase d’essais en vol depuis juin 2026, entrée en service prévue 2029
Outlook / guidance
Expected revenue:
8 500 millions d’euros
Management commentary:
chiffre d’affaires 2026 en hausse par rapport à celui de 2025, classe 8,5 milliards d’euros (dont la livraison de 40 Falcon et 28 Rafale)
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