Tuesday, March 18, 2014

Italy may trim F-35 buy again

Italy could cut its planned order of 90 F-35 fighters as part an effort to trim its defense budget and other spending. Prime Minister Matteo Renzi said late Sunday that Italy would try to reduce its defense budget by $4.2 billion over the next three years by taking measures like closing barracks and cutting the F-35 purchases, according to Reuters. The threat of cuts to international orders from Italy and others risks driving the price of Lockheed Martin's F-35 further upward. Italy has already reduced its F-35 order to 90 from 131 planes. (Source: The Hill, 03/17/14) Gulf Coast note: Eglin Air Force Base, Fla., is home of the F-35 training center.