Free Trial

Swiss propose US-made F-35 fighters for air force renewal

GENEVA (AP) — The Swiss executive branch on Wednesday announced plans to purchase three dozen advanced F-35 fighter jets from U.S. manufacturer Lockheed Martin, which beat three rivals to land a contract worth over 5 billion Swiss francs ($5.5 billion).

The Federal Council recommended that parliament buy 36 F-35A fighters, which came in at a cost of 5.1 billion francs when bids were presented in February. That was “well under” a cap of 6 billion francs approved by Swiss voters in a referendum last fall, a government statement said.

Over the three-decade span of the contract, including both procurement and operating costs, the F-35A would cost 15.5 billion Swiss francs ($16.75 billion), it said.

Other contenders were Boeing’s F/A-18 Super Hornet, France’s Rafale -- produced by Dassault Aviation -- and the Eurofighter from an Airbus-led consortium.

The purchases are part of a multi-year fleet refurbishment by the Swiss air force known as “Air2030” because the division’s current equipment — mainly F/A-18s — will reach the end of its service life by 2030, the government said.

The decision was made after a “comprehensive technical evaluation” based on a cost-benefit analysis, the department said, adding the total F-35A costs including procurement and operating costs came in 2 billion francs less than the second-lowest bidder.

The council also opted to purchase five Patriot ground-based air-defense system units from U.S. contractor Raytheon, which would cost nearly 2 billion — and up to 3.6 billion including operating costs over 30 years.

Where Should You Invest $1,000 Right Now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

Reduce the Risk Cover

Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Boeing (BA)
3.939 of 5 stars
$216.55-0.3%N/A-13.12Moderate Buy$240.20
Lockheed Martin (LMT)
4.5869 of 5 stars
$486.76-0.6%2.71%27.18Hold$513.47
Compare These Stocks  Add These Stocks to My Watchlist 

Featured Articles and Offers

Recent Videos

5 Ways AI Is Creating Massive Profits — and the Stocks to Watch
Investors Are Bracing for a Crash — Here’s Where the Money’s Moving
Looking for Growth? This Tiny AI Stock Has MAJOR Potential

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines