Norway Approves Funding Of Lockheed Martin F-35 Training Jets

FORT WORTH, Texas, June 21st, 2011 - The Norwegian parliament unanimously approved the funding of four Lockheed Martin [NYSE: LMT] F-35 Lightning II training jets to begin fulfilling Norway’s future air-combat capability requirements.

These 5th Generation fighters will bridge the gap between Norway's aging F-16s currently in service, and due to be phased out by 2023. The jets will be delivered to a U.S.-based international training center in 2016.

“We’re very pleased with the announcement and are committed to supporting the Norwegian government in moving forward with the F-35,” said Tom Burbage, Lockheed Martin executive vice president and general manager of F-35 Program Integration. “The Lightning II will help ensure Norway's national security, and also brings substantial opportunities for Norwegian industry.”

The F-35 is a 5th Generation multi-role, stealth fighter developed and funded by nine partner countries, including Norway. It is designed to excel in both air-to-air and air-to-ground operations and features the most comprehensive and powerful avionics of any fighter ever produced. Norway plans to acquire 48 F-35s, and the first jets would be delivered to Norway in 2016.

Three F-35 variants derived from a common design, developed together and using the same sustainment infrastructure worldwide, will replace at least 13 types of aircraft for 11 nations initially. Lockheed Martin is developing the F-35 with its principal industrial partners, Northrop Grumman, BAE Systems and Pratt & Whitney.