Biggest F35 contractors agree to major cost cuts

|By:, SA News Editor

Lockheed Martin (LMT), BAE Systems (BAESF.PK), Northrop Grumman (NOC) and engine builder Pratt & Whitney (UTX) have agreed to huge cuts in the average cost of the F35 Joint Strike Fighter jet by 2019.

The head of the program, Lt. Gen. Chris Bogdan, is confident that despite concerns about the plane's software and defective parts, it is on track to enter service in 2015.

As expected, Holland said yesterday that it will buy 37 F35s and it provided a small indication that Belgium could evaluate the planes as well.