Lockheed Martin Set to Receive $8.5 Bln Order for 90 Stealth Fighters

Lockheed Martin (LMT) is due to reveal an order worth about $8.5 billion for 90 F-35 stealth fighter jets from the US Department of Defense on Friday, Reuters said, citing people familiar with the matter.

The order is for the tenth batch of this aircraft and the price per jet will fall to below $95 million for the first time, compared with $102 million in the previous batch, saving the Pentagon more than $700 million, the report said, citing the unidentified sources.

US President Donald Trump criticized the cost of the program as being “out of control” in December and pledged to bring the prices down, according to the report.

Shares rose 0.8% on Friday afternoon to the highest in more than a week.

By Kristen Tardella