Armenia announced that it is suspending negotiations on the purchase of the Indian Tejas fighter jet, following a crash during an air display at the Dubai Airshow on Saturday, reports The Jerusalem Post.

And Israeli suppliers will incur losses as a result. An advanced version of the Tejas fighter jet, equipped with AESA radar technology and an electronic warfare system manufactured by Elta of Israel Aerospace Industries, is in production.

Armenia was conducting talks with the Indian government and aircraft manufacturer HAL regarding the purchase of 12 aircraft for $1.2 billion in what would have been the first export deal of the aircraft.

The development of the Tejas jet began in 1982, as part of India's attempt to become both one of the world's largest arms purchasers and exporters.