Lockheed Martin Finalizes $34 Billion Deal With Pentagon for 478 F-35s
October 29 2019 - 11:27AM
Dow Jones News
By Michael Dabaie
Lockheed Martin Corp. (LMT) said it finalized a $34 billion
agreement with the Pentagon for 478 F-35s.
Lockheed said the deal is for the lowest aircraft price during
the history of the program. This contract includes all U.S.,
International Partners and Foreign Military Sales aircraft in Lots
12, 13 and 14.
In the agreement, the F-35A unit price, including aircraft and
engine, is now below $80 million in Lot 13 and Lot 14. The F-35A
unit cost represents an estimated overall 12.8% reduction from Lot
11 costs for the conventional landing variant, and an average of
12.7% savings across all three variants from Lot 11 to 14, Lockheed
said.
The agreement includes 291 aircraft for the U.S. services, 127
for F-35 international partners, and 60 for F-35 foreign military
sales customers, Lockheed said.
Lockheed shares were up 0.6% to $373.96.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
October 29, 2019 11:12 ET (15:12 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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