Jun 11, 2014

Next U.S. F-35 fighter contract early this summer

Lockheed Martin expects to sign a contract with the U.S. government early this summer for an eighth batch of F-35, but the deal is unlikely to match price reductions seen on the last few contracts.
The company had driven the price of the jets lower by 4 percent to 5 percent in each of the previous three contracts, but savings of that magnitude were unlikely on the next deal, which will be for 43 jets, given the lack of large quantity increases in the order.
Lockheed submitted a proposal for the eighth batch of F-35 jets in December. The company finalized a contract in September for 71 more F-35s, including a sixth batch of 36 jets, and a seventh batch of 35 aircraft.
In April, The Pentagon's F-35 program chief, said he hoped to sign contracts with both Lockheed and engine maker Pratt & Whitney, by the end of May.

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