Canada concludes $14Bln deal with Lockheed Martin to buy 88 F-35 jets
The defense minister said that if Lockheed Martin fails to deliver the jets in time, there are no clauses in the agreement to hold the company accountable for the delays.
Minister of Defense Anita Anand said on Monday the government of Canada concluded a staggering $14.2 billion USD deal with Lockheed Martin to purchase a squadron of F-35 warplanes.
"Today, I am announcing that Canada is acquiring a new fleet of 88 state-of-the-art F-35 fighter jets through an agreement that we have finalized with the United States government and Lockheed Martin with Pratt and Whitney. This investment is estimated at $19 billion, making it the largest investment in our Royal Canadian Air Force in 30 years," Anand said during a news brief on Monday.
The first block of 16 stealth fighters are scheduled to arrive this year, the second which includes 4 jets will arrive by 2026, the third which includes six jets will be delivered by 2027, and the fourth which also includes six jets will be delivered by 2028.
Trudeau then: The F-35 is too expensive and Stephen Harper is bad for wasting Canadians' money on this.— Rebel News (@RebelNewsOnline) January 9, 2023
Trudeau now: The F-35 is great, this is our new jet fighter of the future. pic.twitter.com/DruIwvbhIK
The defense minister added that the remaining jets will be delivered by the end of 2032 for the Royal Canadian Air Force (RCAF) to phase out all of its CF-18 jets.
Anand said that if Lockheed Martin fails to deliver the jets in time, there are no clauses in the agreement to hold the company accountable for the delays.
During the interim period, Canada will be using CF-18 units acquired from Australia to supplement RCAF's fleet.
"These two initiatives will help extend the life of our CF-18 fleet to 2032 and will allow for a gradual transition from the CF-18 to the F 35," Anand added.
Today, I announced that Canada is acquiring a new fleet of 88 F-35 fighter jets. This project is estimated at $19 billion – making it the largest investment in our @RCAF_ARC in three decades. This project will ensure that our aviators have the tools they need to defend Canada. pic.twitter.com/4qbaT3vC1B— Anita Anand (@AnitaAnandMP) January 9, 2023
Read more: US grounds several F-35s following crash in Texas: Pentagon