F-16 Fighting Falcon News

February 22, 1998 (by Lieven Dewitte) - US defense aviation manufacturer Lockheed Martin said its F-16 and F-2 fighter jet programs in Asia were proceeding as scheduled despite the economic crisis in the region.
Robert Elrod, vice-president for the F-16 programs, said orders placed by South Korea, Taiwan, Singapore and Japan as well as production schemes with South Korea and Japan were unaffected. However, Elrod expressed some reservation that with the economic crisis, South Korea may delay taking delivery of some aircraft under a five-year program from 1994 to 1999.

South Korea has an order of 120 F-16s and 60 of these had already been delivered. Lockheed Martin is also working with South Korean giant Samsung Group to produce F-16s under the Korean Fighter Program. The F-2 program in Japan is continuing with strong government commitment.

Lockheed Martin is working with Japan's Mitsubishi Heavy Industries on the production of F-2s and Japan has placed an order of 130 F-2s. Taiwan's F-16 program is continuing on schedule, with no impact from the Asian financial situation. Taiwan has an order for 150 F-16s that are scheduled to be delivered between 1996 and 2000. Singapore's order for 42 F-16s is also unaffected.

Lockheed Martin hopes for near-term discussions with the Philippines on plans to order new jets to update its aging fleet but talks could be delayed due to current economic conditions. In 1997, Lockheed Martin delivered 144 aircraft worldwide.