Author: Brenda Marie Rivers|| Date Published: December 30, 2019
Lockheed Martin (NYSE: LMT) has secured a $280M contract to modernize F-16 jets for the Greek air force™s as part of Greece’s push to update the fighter aircraft fleet by 2027, DW News reported Saturday.
The Bethesda, Md.-based company plans to enlist a Greek subcontractor as part of the agreement that was finalized last week.
Nikos Panagiotopoulos, Greek minister of national defense, informed the Hellenic Parliament that the project would involve updating 84 F-16s to the Viper variant over a seven-year period.
The total estimated cost of the modernization effort is $1.5B, the report noted.
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