Lockheed Martin optimistic on $5.58B F-16 deal

American aerospace company Lockheed Martin remains optimistic about the imminent formal offer from the US government for the sale of $5.58-billion worth of F-16 fighter jets to the Philippines.

During a press briefing in Taguig City, Aimee Burnett, Vice President of Lockheed Martin's Integrated Fighter Group Business Development, reiterated that while the company will supply the F-16 Block 70 jets, discussions are ongoing between Philippine and US governments regarding the formal offer.

Lockheed Martin also highlighted its proposal for an Innovation Center in the Philippines aimed at fostering research and development collaboration, technology transfer, and investment, similar to their initiatives in other countries.

The company plans to enhance maintenance, repair, and overhaul capabilities by providing local partners with technologies and equipment to directly service Philippine Air Force aircraft.

Philippine Ambassador to the US Jose Manuel Romualdez mentioned last week that the country is collaborating with the US and Lockheed Martin to explore financing options for this significant acquisition, amid rising tensions in the West Philippine Sea.