- Germany plans to buy 35 U.S. F-35 fighter jets built by Lockheed Martin Corp (NYSE:LMT) to replace its aging Tornado, reported Reuters.
- Germany also plans to purchase 15 Eurofighter jets equipped for electronic warfare from Airbus SE (OTC:EADSY), the report cited a confidential document sent to lawmakers.
- "After careful consideration of all available options, I have decided to proceed with the procurement of the F-35 as a replacement for the Tornado in the nuclear engagement role," the report quoted a statement issued by Defence Minister Christine Lambrecht.
- The report added that the German air force has been flying the Tornado since the 1980s, and Berlin plans to phase it out between 2025 and 2030. The Tornado is the only German aircraft capable of carrying U.S. nuclear bombs stored in Germany in the event of a conflict.
- Price Action: LMT shares are trading higher by 0.37% at $440.68 and EADSY higher by 1.60% at $28.27 on the last check Monday.
