Lockheed Selling 18 F-16 Fighter Jets to Iraq

$830 million purchase price includes the full complement of accessories.

Rich Smith
Rich Smith
May 1, 2013 at 11:33AM

Of 19 contracts -- and $2.8 billion -- awarded by the Defense Department Tuesday, some companies made out better than others. Lockheed Martin (NYSE:LMT), the biggest defense contractor on the globe, was one of the biggest winners Tuesday, snagging a huge $830 million modification to a foreign military sales contract, instructing it to produce and sell to Iraq 18 F-16 fighter jets for the local air force.

Support equipment, technical orders, integrated logistics support, contractor logistics support, and an electronic warfare system will all be part and parcel of the planes purchase, and Lockheed will work fast on this one. The anticipated date for delivery of the aircraft is April 30, 2014.

linkF-16s. Source: Wikimedia.