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State Department OKs $2.4B F-16 Sale to Philippines

The State Department has cleared a potential $2.43 billion foreign military sale of F-16 Block 70/72 fighter planes, manufactured by Lockheed Martin (NYSE: LMT), to the Philippine government.

This proposed FMS transaction covers the procurement of 10 F-16C jets, a pair of F-16D units and 15 F100-PW-229EEP or F110-GE-129D engines, the Defense Security Cooperation Agency said Thursday.

Other items include 15 AN/APG-83 advanced electronically scanned array radars, 24 Advanced Medium-Range Air-to-Air Missiles, six Mk-82 bombs.

The Philippines is procuring the aircraft along with munitions for use in counterterrorism missions in its southern region.

Fewer than 20 contractor and government representatives would provide technical, maintenance and training support services as part of the proposed sale.

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