May 29, 2009 (by Asif Shamim) - According to Bloomberg, the Chief Executive Officer of Lockheed Martin, Robert Steven has been quoted to say there may be a sale of 24 F-16s to Egypt to replace aging aircraft.
Egypt AF #9951 & #9952
"The case in Egypt
is unfolding," Stevens said during the Sanford C. Bernstein Strategic Decisions Conference in New York, without disclosing the potential contract value in the Webcast presentation. "As you fly these airplanes in operations, there is ordinary attrition that occurs."
Egypt has been a long term user of the F-16 and has 220 in its fleet. A further sale of 24 aircraft would be worth close to $1 billion just for the aircraft and further additional costs for the on going support.
Stevens made the announcement ahead of a scheduled four-day overseas trip by U.S. President Barack Obama next month that will include a stop in Egypt, as well as Saudi Arabia, France, and Germany.