Exclusive: Lockheed nears F-35 block buy deal worth more than $37 billion - sources | Reuters

By Mike Stone U.S. weapons maker Lockheed Martin Corp is in the final stages of negotiating a deal worth more than $37 billion to sell a record 440 F-35 fighter jets to a group of 11 nations including the United States, two people familiar with the talks said

Reuters June 18, 2017 22:45:04 IST
Exclusive: Lockheed nears F-35 block buy deal worth more than $37 billion - sources
| Reuters

Exclusive Lockheed nears F35 block buy deal worth more than 37 billion  sources
 Reuters

By Mike Stone

U.S. weapons maker Lockheed Martin Corp is in the final stages of negotiating a deal worth more than $37 billion to sell a record 440 F-35 fighter jets to a group of 11 nations including the United States, two people familiar with the talks said. This would be the biggest deal yet for the stealthy F-35 jet as it is set to make its Paris Airshow debut this week. The sale represents a major shift in sales practices from annual purchases to more economic multi-year deals that lower the cost of each jet.

The pricing of the jets was still not final, though the average price of the 440 jets was expected to be $85 million, the people said on condition of anonymity because they were not authorized to discuss the negotiations publicly. The multi-year deal for the fighters will consist of three tranches over fiscal years 2018-2020.

A Lockheed representative said the company does not discuss negotiations on contracts and any deal involving a "block buy" would be announced by the U.S. government. A representative for the customers including the United States did not immediately respond to a request for comment on Sunday.

(Reporting by Mike Stone; editing by Chris Sanders and Susan Fenton)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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