US to Sell F-35s to Saudi Arabia in $24.3 Billion Deal

The State Department notified Congress that it plans to sell Saudi Arabia up to 48 F-35 warplanes in a first-time sale that could be worth as much as $24.3 billion.

The sale of the Lockheed Martin Corp. fighter jet to Saudi Arabia has been in the works for a number of years.

President Donald Trump signaled in November the US would sell F-35s to the Kingdom, offering Crown Prince Mohammed bin Salman a prize he’s long cherished, ahead of a visit to the White House that month.

Meantime, the Pentagon and Lockheed Martin Corp. are moving to speed up the production of a new classified air-to-air missile for US Air Force and Navy jets that’s seen as vital to deterring China.

For more, we speak with Wayne Sanders, Senior Defense Research Analyst for Bloomberg Intelligence. (Source: Bloomberg)