DOD cuts F-35 long-term cost estimate by 20%

08/22/2013 | Reuters

The Pentagon is projecting the F-35 fighter jet will cost more than 20% less than originally thought to operate long-term, an estimate which brings the Lockheed Martin aircraft to under $1 trillion and which observers say is a more accurate assessment of the cost to operate the plane. The Defense Department expects the F-35 will cost $857 billion to operate long-term, a new projection that the U.S. hopes may spur South Korea to re-open its bidding for 60 new aircraft. Lockheed is one of the bidders in that competition, which has appeared to favor Boeing's bid.

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