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Slovakia plans to lease Gripen fighters

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what happen when the lease expires? Who will buy the used aircraft then or is it Sweden will loan them from its own opeational squadrons

Remains to be seen.
So far noone has returned any Gripens under lease.
They have leased MiG-29 right now, and they will be returned.
 
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Not unexpectedly, Slovakia is moving close to a deal to lease Gripen fighter aircraft.
The Czech Republic has had a similar deal for several years,
and Slovakia and the Czechs are starting to cooperate on air defense.

Conditions of Gripen jet fighters rental agreed - spectator.sme.sk
they seam to be leasing quiet a lot of them. i think it may be due to maintainance in the future. yes your right that no lesse has returned any gripens. hugary leased 14 gripens for 10 years and had the option to buy them in the end but they just extended the lease by 10 years.
 
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Slovak Government might choose new fighter very soon
https://airshowinfo.hu/airshowfeed/2017/06/19/slovak-government-might-choose-new-fighter-very-soon/

According to the hlavnespravy.sk website, the Minister of Defense Peter Gajdoš said, that it wants to have an analysis of new fighter offerings by the end of September at the latest. The Slovak Armed Forces currently operate the Mig-29 fighter jets. Their operation is ensured by a contract, which the previous Ministry has extended, for a period of three years with the possibility of shortening one year. The maintenance of current fighters is thus secured by 2019.

Since 2015, Slovakia has also negotiated with Sweden about JAS-39 Gripen fighters (Czech Gripen druing the Pardubice Airshow):
 
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