Lockheed Jet Deal to Cost Canada Over $20 Billion, Auditor Says

MT Newswires Live06-10

A deal finalized in December 2022 for Canada to buy 88 F-35A fighter aircraft from Lockheed Martin (LMT) will cost an estimated C$27.7 billion ($20.26 billion), almost 50% more than originally anticipated, the country's auditor general said Tuesday in a report.

"That projection does not include other elements needed for Full Operational Capability, such as essential infrastructure upgrades and advanced weapons," the report said. "These would add at least C$5.5 billion to the total cost."

Price: 477.90, Change: -2.68, Percent Change: -0.56

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