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Biden admin plans to reduce F-35 jet orders from Lockheed Martin by 18% in 2025 budget, affecting $1.6B spending and impacting company revenue.
The Biden administration is reportedly planning to reduce the number of F-35 fighter jets ordered from Lockheed Martin Corporation by 18% in the upcoming 2025 budget due to budget constraints, resulting in an approximate $1.6 billion reduction in jet spending.
The decision could have implications for Lockheed Martin, which derives roughly a quarter of its revenue from the jet program.
Lockheed Martin's shares dropped by 2.6% following the news, and the company expressed its willingness to collaborate with the Biden administration and Congress on the 2025 fiscal year budget.
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La administración de Biden planea reducir los pedidos de aviones F-35 de Lockheed Martin en un 18% en el presupuesto de 2025, lo que afectará el gasto de 1.600 millones de dólares y afectará los ingresos de la empresa.