Greece negotiates lower F-16 upgrade costs with Lockheed Martin
Greece is in discussions with the US defense company Lockheed Martin to reduce the soaring costs associated with modernizing its F-16 jets, according to media reports on Wednesday.
The talks on the modernization of 38 F-16 Block 50 jets to the latest Viper configuration started earlier this week in Athens and are taking place between representatives of the company and senior officials of the Greek Air Force, reported the daily Kathimerini, News.Az reports citing Anadolu.
Greece initially estimated the cost at around $800 million, but a US letter of understanding valued the program at $1.5 billion, it noted.
Kathimerini said the parties could reach an initial agreement of about $900 million by skipping some of the systems originally requested by the Greek Air Force.
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