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Lockheed expects to begin deliveries of F-16 combat jets in 2024 (June 8) -Breaking


© Reuters. FILE PHOTO – The Lockheed Martin logo is displayed at Euronaval in Le Bourget, France on October 23rd 2018. REUTERS/Benoit Tessier GLOBAL BUSINESS WEEK AHEAD

Correction to insert reference to Saudi Arabian Kingdom and United Arab Emirates in paragraph 2.

(Reuters) –Lockheed Martin Corp plans to build its F-16 fighter planes next year, and begin deliveries by 2024 according to Jesus Malave, the company’s chief financial officer.

It has key U.S. allies like Taiwan, Slovakia, Jordan, and Bahrain that are eager to buy the plane.

Malave stated that it was more difficult than anticipated to find new workers and train employees for building the aircraft.

The ramp has been delayed a bit. “We will likely see some cost burden there,” Malave stated at the UBS Global Industrials and Transportation Conference.

F-16 is a maneuverable, highly maneuverable plane that has been tested in air to air combat and surface attack.

The U.S. State Department has approved the possible sale of 8 F-16 planes and other equipment to Bulgaria in an agreement worth $1.673 billion. Lockheed was named the primary contractor.

The aircraft is getting a lot more interest. It’s possible to aspiration in the coming years. [production of]Malave also added that there are 3 per month.