Stock Market News

Turkey scales down $23 billion F-16 jet deal with US, minister says

2024.11.26 23:36

ANKARA (Reuters) – Turkey has reduced its planned $23 billion acquisition of an F-16 fighter jet package from the United States, scrapping the purchase of 79 modernisation kits for its existing fleet, Defence Minister Yasar Guler said late on Tuesday.

NATO member Turkey earlier this year secured a deal to procure 40 F-16 fighter jets and 79 modernisation kits for its existing F-16s from the United States, after a long-delayed process.

“An initial payment has been made for the procurement of F-16 Block-70. A payment of $1.4 billion has been made. With this, we will buy 40 F-16 Block-70 Viper and we were going to buy 79 modernisation kits,” Guler told a parliamentary hearing.

“We gave up on this 79. This is why we gave up: Our Turkish Aerospace Industries (TUSAS) facilities are capable of carrying out this modernisation on their own, so we deferred to them,” he said.

The sale of the 40 new Lockheed Martin (NYSE:) F-16 jets and ammunition for them will cost Turkey some $7 billion, Guler added.

Turkey placed its order in October 2021, two years after the United States kicked the country out of the fifth-generation F-35 fighter jet program over its procurement of a Russian missile defence system.

Turkey wants to re-join the F-35 programme and buy 40 new F-35 jets, Guler also said.

Turkey is one of the largest operators of F-16s, with its fleet made up of more than 200 older Block 30, 40 and 50 models.

© Reuters. FILE PHOTO: An F-16 aircraft of the Turkish Stars aerobatic team of the Turkish Air Force performs during Teknofest airshow over the city's new airport under construction in Istanbul, Turkey, Sept. 20, 2018. REUTERS/Osman Orsal/File Photo

Ankara is also interested in buying Eurofighter Typhoon fighter jets, built by a consortium of Germany, Britain, Italy and Spain.

It is also developing its own combat aircraft, KAAN.



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 96,746.92 2.31%
ethereum
Ethereum (ETH) $ 1,846.90 2.77%
tether
Tether (USDT) $ 1.00 0.02%
xrp
XRP (XRP) $ 2.23 1.01%
bnb
BNB (BNB) $ 600.28 0.14%
solana
Solana (SOL) $ 150.81 2.68%
usd-coin
USDC (USDC) $ 1.00 0.01%
dogecoin
Dogecoin (DOGE) $ 0.181997 5.25%
cardano
Cardano (ADA) $ 0.710763 3.76%
tron
TRON (TRX) $ 0.245273 0.57%
staked-ether
Lido Staked Ether (STETH) $ 1,847.64 2.93%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 96,657.90 2.29%
sui
Sui (SUI) $ 3.65 4.90%
chainlink
Chainlink (LINK) $ 14.87 3.88%
avalanche-2
Avalanche (AVAX) $ 21.66 2.70%
stellar
Stellar (XLM) $ 0.275539 1.12%
leo-token
LEO Token (LEO) $ 9.02 0.44%
shiba-inu
Shiba Inu (SHIB) $ 0.000014 2.74%
the-open-network
Toncoin (TON) $ 3.21 0.67%
hedera-hashgraph
Hedera (HBAR) $ 0.188689 3.07%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,215.15 2.72%
usds
USDS (USDS) $ 1.00 0.00%
bitcoin-cash
Bitcoin Cash (BCH) $ 363.62 0.60%
litecoin
Litecoin (LTC) $ 90.45 7.56%
hyperliquid
Hyperliquid (HYPE) $ 20.03 5.33%
polkadot
Polkadot (DOT) $ 4.21 2.49%
weth
WETH (WETH) $ 1,845.17 2.71%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.04%
bitget-token
Bitget Token (BGB) $ 4.39 1.21%
monero
Monero (XMR) $ 276.69 0.13%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.02%
whitebit
WhiteBIT Coin (WBT) $ 29.28 1.13%
pi-network
Pi Network (PI) $ 0.601975 2.52%
wrapped-eeth
Wrapped eETH (WEETH) $ 1,967.29 2.76%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 96,750.92 2.40%
pepe
Pepe (PEPE) $ 0.000009 1.14%
aptos
Aptos (APT) $ 5.54 3.43%
dai
Dai (DAI) $ 1.00 0.01%
uniswap
Uniswap (UNI) $ 5.37 0.92%
bittensor
Bittensor (TAO) $ 363.53 2.89%
near
NEAR Protocol (NEAR) $ 2.58 4.58%
okb
OKB (OKB) $ 51.74 1.20%
susds
sUSDS (SUSDS) $ 1.05 0.00%
ondo-finance
Ondo (ONDO) $ 0.918969 0.83%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
gatechain-token
Gate (GT) $ 21.84 0.61%
aave
Aave (AAVE) $ 175.09 5.81%
internet-computer
Internet Computer (ICP) $ 4.95 0.62%
ethereum-classic
Ethereum Classic (ETC) $ 16.98 2.13%
official-trump
Official Trump (TRUMP) $ 12.84 0.10%