Canada Purchases 88 F-35 Fighter Jets in $14.2Bln Deal With Lockheed Martin

WASHINGTON (Sputnik) - The Canadian government has inked a C$19 billion (US$14.2 billion) deal with Lockheed Martin to acquire a fleet of 88 F-35 fighter jets, Minister of Defense Anita Anand said on Monday.

"Today, I am announcing that Canada is acquiring a new fleet of 88 state of the art F 35 fighter jets through an agreement that we have finalized with the United States government and Lockheed Martin with Pratt and Whitney. This investment is estimated at $19 billion, making it the largest investment in our Royal Canadian Air Force in 30 years," Anand said during a news conference.

Canada will acquire the aircraft in tranches and the first tranche will include 16 jets, the second in 2026 will include four jets, the third in 2027 will include six jets and the fourth in 2028 will also include six jets.

The rest of the fleet should be delivered by the end of 2032 just in time for the Royal Canadian Air Force (RCAF) phase out of its fleet of CF-18 jets, Anand added.

The defense minister noted that there is no clause in the agreement holding Lockheed Martin accountable for failing in the delivery schedule.

Canada has also acquired more CF-18 units from Australia to supplement RCAF’s fleet in the interim period, Anand said, adding that those are also being upgraded under the so-called Hornet extension project.

"These two initiatives will help extend the life of our CF-18 fleet to 2032 and will allow for a gradual transition from the CF-18 to the F 35," Anand added.