A U.S. Marine Corps Lockheed Martin F-35B fighter jet

Lockheed Martin given $3.7 billion towards 50 F-35s

By Mike Stone and Eric Beech, Reuters

Lockheed Martin Corp was awarded a $3.7 billion interim payment for fifty F-35 jet fighters that are earmarked for non-U.S. customers, the Pentagon said on Friday.

Lockheed and its partners have been producing the jets under a placeholder agreement known as an “undefinitized contract action.”

The agreement announced on Friday allows Lockheed to continue production of the F-35 jets while it finalizes the terms of the 11th contract with the Pentagon.

The contract provides funds for the procurement of 50 aircraft, comprised of one F-35B aircraft for Great Britain, one F-35A for Italy, eight F-35A aircraft for Australia, eight F-35A for the Netherlands, four F-35A for Turkey, six F-35A for Norway, and 22 F-35A aircraft for other foreign military sales customers, the Pentagon said in a statement.

Continue at Reuters