Pentagon, Lockheed Reach Deal on F-35s

Lockheed Martin will deliver the fifth batch of F-35 fighter aircrafts to the U.S. Defense Department, according to a new contract worth $3.8 billion.

The Pentagon will pay about $107 million for 22 conventional takeoff and landing jets, according to Reuters. Lockheed Martin will also deliver three Marine Corps models of the plane, which can land vertically, and seven Navy models, which can be used on aircraft carriers.

Reuters reports that the price of the conventional jet will fall to $64 million each by the time of the 10th lot, if production continues as planned, according to Loren Thompson, a defense consultant with ties to Lockheed.