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Lockheed Martin Receives $1Bln to Cover F-35 Fighter Jet Production Expenses

© Photo : Lockheed Martin100th F-35 Rolls Out of the Factory
100th F-35 Rolls Out of the Factory - Sputnik International
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Pentagon’s Joint Program Office spokesman Joe DellaVedova stated that Pentagon reimbursed Lockheed Martin for $1 billion that the company spent on the ninth production run of the F-35 joint strike fighter.

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WASHINGTON (Sputnik) — The US Department of Defense has reimbursed Lockheed Martin for $1 billion that the company spent on the ninth production run of the F-35 joint strike fighter, Pentagon’s Joint Program Office spokesman Joe DellaVedova announced on Friday.

“With what we have provided, Lockheed will be able to continue the LRIP 9 production without bearing any undue burden,” DellaVedova told Defense News.

The payment comes as the Defense Department and Lockheed continue to negotiate a final price for production lots nine and ten of F-35, worth about $14 billion for more than 140 aircraft, the media outlet explained.

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Lockheed has previously said it needed the cash to continue production because it had paid about $1 billion to suppliers from its own funds.

The Pentagon and Lockheed are negotiating a separate reimbursement for production lot 10, which will be needed if the two sides continue to negotiate a final price, according to the reports.

The entire F-35 project is expected to cost up to $1.5 trillion over the next 55 years, making it the most expensive defense program ever.

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