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  • Tuesday, April 23, 2024

Lockheed Expecting New USAF Contract for F-35 Jets; Orlando Carvalho Comments


F35Lockheed Martin (NYSE: LMT) is set to secure a deal to provide the U.S. government with 43 additional F-35 fighter aircraft, but with less price reductions compared to previous orders, Reuters reported Monday.

Andrea Shalal reports a U.S. Air Force contract with Lockheed is expected before the end of June, according to Orlando Carvalho, the company’s aeronautics division executive vice president.

Carvalho and other sources said negotiations are ongoing with Lockheed and United Technologies‘ (NYSE: UTX) Pratt & Whitney, an engine manufacturing firm.

Lockheed deducted 4 to 5 percent from the order price in the past three F-35 contracts, but the order quantity for the upcoming contract has not significantly increased to warrant the same amount, writes Shalal.

“I’m not sure we will get to that level, but I do expect we’ll have a reduction from the previous lot on an aircraft-to-aircraft basis, ” Bruce Tanner, Lockheed’s chief financial officer, told Reuters.

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