American arms manufacturer Lockheed Martin is about to finalize a major deal to sell hundreds of its F-35 Lightning II fighter jets to the US and 10 other governments, a new report has revealed.
The new contract is worth more than $37 billion and includes a record 440 F-35s, Reuters reported Sunday, citing people familiar with the matter.
One official said the new contract was part of Lockheed’s new approach to lower the aircraft’s costs by replacing annual purchases with more economic multi-year deals.
The sources said the exact price of each unit had yet to be finalized but the average price for the 440 jets was expected to be around $85 million.
The jets will be delivered in three portions over fiscal years 2018-2020, the report added.
The report came after the last week meeting in Baltimore between representatives of 11 customers—Australia, Denmark, Israel, Italy, Japan, the Netherlands, Norway, Turkey, South Korea, Britain and the…