Egypt weighing purchase of F-16s, Lockheed says

05/29/2009 | Bloomberg

Lockheed Martin Corp. says it is in discussions with Egypt to sell two dozen F-16 jets that would replace aging models in the country's arsenal. Egypt has received 220 of the aircraft since 1982, and, as Lockheed CEO Robert Stevens noted on Thursday, "As you fly these airplanes in operations, there is ordinary attrition that occurs." Though Stevens did not discuss any contract terms, analysts say an order for 24 jets could be worth about $1 billion.

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