F-35 Partner Disputes Trump's Claim of Securing Big Savings
- BAE Systems says cost reduction was in line with forecasts
- Discount achieved through ramp-up of fighter jets, CEO says
A Lockheed Martin Corp. F-35.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
President Donald Trump’s assertion that he is saving the Pentagon a fortune on its next generation fighter jet, the F-35, is being disputed again -- this time, by one of the partners in the program.
The lower price on the $8.2 billion contract is due to cost reductions achieved through a long-planned increase in production, BAE Systems Plc Chief Executive Officer Ian King told analysts after releasing the company’s full-year earnings Thursday.