F-16 Fighting Falcon News

From 1998

Sep 30, 1998 - The New Zealand Govt has just announced that it will lease-buy the28 Pakistani F16s. New Zealand's minority government on Tuesday opted to acquire 28 barely used fighters from the United States, saying it would make a huge savings by leasing planes unwanted by the Pentagon. The 10-year lease for the F-6A/B fighters costs about NZ$200 million ($105 million). The Vipers have to replace New Zealand's 19 aging, subsonic A-4 Skyhawk strike planes. This move should save NZ$431 million over the cost of buying new planes next century. The government opted to acquire the F-16s under a lease-buy deal, with payments spread over 10 years and delivery starting in 30 months. Pakistan originally paid Lockheed Martin for the supersonic fighters in1990, but Congress blocked delivery over concerns about that country's developing nuclear capacity. [Read more...]
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