Pentagon, Lockheed Reach Deal On Next Batch Of F-35s Amid Inflation Concerns - Statement

WASHINGTON (UrduPoint News / Sputnik - 19th July, 2022) The Pentagon and Lockheed Martin have reached an agreement on the prices and quantities of new F-35 fighter jets that will be purchased over the next three years, a company spokesperson said.

On Monday, US media reported that the Pentagon and Lockheed reached an agreement valued at about $30 billion for an estimated 375 F-35 fighter jets.

"Through a collaborative effort with the F-35 enterprise, including the Joint Program Office, suppliers and teammates, we have successfully reached an agreement on Lots 15 through 17," a company spokesperson said in a statement later on Monday.

"In the midst of continued COVID-19 impacts and decreased F-35 quantities, the F-35 enterprise was able to achieve a cost per jet lower than record-breaking inflation trends."

Final prices, the number of F-35 jets that will be sold, including which countries will procure the aircraft, will be shared when the agreement is officially signed, the spokesperson added.

Before the coronavirus pandemic and record-setting inflation, the Pentagon expected to make this sale for 485 F-35 jets at a total cost of about $34 billion, according to US media reports.