Pentagon negotiates discounts for 71 more F-35 planes

The Pentagon has agreed in principle to acquire 71 more F-35 fighter jets from Lockheed Martin (LMT) after negotiating a price cut with the contractor.

The Defense Department will buy 36 aircraft for 4% less than it paid last year and 35 planes for 8% less.

The deal, which includes ancillary equipment, is reportedly worth over $7B.

The lower prices are enabling the Pentagon to acquire all the F-35s it has planned to in what will be the sixth and seventh purchase lots.

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