Global RiskNews Briefs

Canada edges closer to F-35 jets deal with Lockheed Martin worth up to $15 billion

Canada has picked Lockheed Martin Corp as the bidder to supply 88 new jets. Procurement Minister Filomena Tassi mentioned Monday that the US company is set to sign the multibillion-dollar contract. Canada has been under pressure to boost their defense spending as the war in Ukraine continues. 

Canada has been attempting to replace its F-18 fighter jets for over a decade. In 2010, the administration said that they would buy 65 F-25 jets, but they scrapped the decision shortly after. The government of President Justin Trudeau will only hold detailed talks with Lockheed Martin. Canada is hoping to sign the contract this year and receive the first deliveries of F-35s in 2025.

Read more: Canada edges closer to F-35 jets deal with Lockheed Martin worth up to $15 billion

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