TURKEY, UNITED STATES SIGN AGREEMENT FOR SALE OF ADDITIONAL LOCKHEED MARTIN F-16 AIRCRAFT TO TURKEY
FORT WORTH, Texas, 11-MAY-07 -- The governments of Turkey and the United States have signed a Letter of Offer and Acceptance (LOA) for the sale of 30 additional Lockheed Martin [NYSE:LMT] Advanced F-16 Block 50 aircraft to Turkey.
The new aircraft will supplement the Turkish Air Force’s (TUAF) existing fleet of F-16s and contribute to the upgrade and modernization of the TUAF. The new aircraft include the same advanced systems being installed on Turkey’s existing F-16 fleet as part of an on-going upgrade program. At the conclusion of these two programs all Turkish F-16s will be in a common, state-of-the-art configuration. The total LOA value for the 30 aircraft and equipment is approximately $1.8 billion (U.S.). Lockheed Martin and its supplier base will receive approximately $1.1 billion of this amount.
Final assembly and delivery of the aircraft will be performed at TUSAS Aerospace Industries (TAI) in Turkey, furthering the longstanding business relationship between Lockheed Martin and TAI.
“The government of Turkey and Lockheed Martin have enjoyed a long history together,” said Ralph D. Heath, president of Lockheed Martin Aeronautics. “We also value the excellent relationship that has existed between Lockheed Martin and TUSAS Aerospace Industries since that company was formed to support Turkey’s first F-16 program in the mid-1980s. We are committed to building on those relationships to support Turkey’s defense and industrial needs for the future.”
“The F-16 continues to be the most proven and affordable multirole fighter in service today and this purchase reaffirms the true partnership that Lockheed Martin has fostered with the TUAF. With over 12 million flight hours logged on the F-16 worldwide fleet today, this second repeat order by the TUAF is a true testament to the F-16’s safety and reliability,” said John Larson, Lockheed Martin’s vice president of F-16 programs.
TAI, Turkey’s national aerospace company, has delivered more than 200 F-16 aircraft from its factory near Ankara under previous orders. The firm has produced several other types of aircraft also, extending the original capability established for the F-16 program.
The F-16 is the choice of 24 countries. More than 4,300 aircraft have been delivered worldwide from assembly lines in five countries, including Turkey. The F-16 program has been characterized by unprecedented international cooperation among governments, air forces and aerospace industries. Major upgrades to all F-16 versions are being incorporated to keep the fleet modern and fully supportable over the aircraft’s long service life.
Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2006 sales of $39.6 billion.
F-16 is a registered trademark of Lockheed Martin Corp.