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Lockheed and Pentagon Reach $4 Billion Deal on F-35 Fighter Jets

Tara Terregino
10/24/14 10:24 AM EDT
Lockheed Martin and the Pentagon have reached an agreement for an eighth batch of F-35 fighter jets in a $4 billion contract. This deal not only includes 43 more jets, but will ultimately lead to the lower cost of warplane by about 3 percent. Some of these jets will be built for the U.S. military, Britain and other U.S. allies, according to sources. The cost of the U.S. Air Force model, which accounts for over half of the 43 aircraft, will go down by nearly 4 percent. In September, Lockheed said that it expects per-unit costs for the F-35 to fall to about $80 to $85 million by 2019, which is down from the current unit cost of $115 million.
Stocks in this video: LMT

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