Lockheed Martin gets $180 million Air Force contract for more F-22 fighter jets


Lockheed Martin Corp., the nation's largest defense contractor, received a contract from the Air Force worth up to $180 million to buy four more F-22 fighter jets, the Pentagon said late Wednesday.

The deal comes with an option to buy an additional 16 aircraft. So far, only $49 million has been committed to the program. The funding will be used to purchase parts for four F-22s beyond the 183 planes under contract.

Earlier this month, the Pentagon decided to scrap Congress' plan to initially spend $140 million for 20 more aircraft, and instead opted to spend $50 million in "bridge funding" for only four of the stealth fighters. The move to buy four with an option for more would offer the next administration time to make a decision on whether to buy more aircraft, the Pentagon has argued.

Shares of the Bethesda, Md.-based company added $1.07 to close at $73.53 Wednesday.

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