Lockheed announces initial Pentagon agreement covering 850 F-35 jets over 10 years

Lockheed Martin has announced an initial production and sustainment agreement with the Pentagon covering 850 F-35 jets over 10 years, Reuters reports. Reuters says it is not an order; the arrangement also covers international orders, initial spares and modification kits. Lockheed aims to maintain annual production of 156 aircraft. If granted multi-year authority, the company and the F-35 Joint Program Office would work to finalize terms, pricing and schedules through a formal contract award.