“President-elect Donald Trump took a swipe at Lockheed Martin’s F-35 program Monday morning, saying the cost was “out of control.”
Shares of the aerospace company dropped more than 4 percent in early trade. The company’s market value dropped $4 billion after the tweet.”
“Lockheed Martin has invested large sums of money to reduce the price of the F-35 stealth fighter program, a company executive said in Israel on Monday, responding to Trump’s criticism.
“Since the beginning, we have invested hundreds of millions of dollars to reduce the price of the airplane by about 70 percent since its original costing, and we project it to be about $85 million in the 2019 or 2020 time frame”, Jeff Babione, Lockheed Martin’s F-35 program leader told Reuters.”