State Dept OKs Potential $2.4B FMS Deal for Greek F-16 Upgrades

The State Department has approved a potential $2.40 billion foreign military sales transaction for Lockheed Martin (NYSE: LMT) to convert F-16 aircraft into a Block V configuration for the Greek air force.

Greece asked to buy 125 APG-83 active electronically scanned array radars, 123 modular mission computers and 123 Link-16 multifunctional information distribution system-joint tactical radio systems with TACAN and EHSI features for the country’s F-16 fleet modernization effort.

The proposed sale also includes 123 LN260 embedded global and inertial navigation systems along with 123 improved programmable display generators.

Lockheed could also provide test, spares and repair parts, personnel training and training equipment, publications and technical documentation, engineering, logistical and technical support services.

DSCA noted the Greek air force aims to modernize its F-16s in a push to increase support for NATO operations, sustain future military operations and comply with national security requirements.

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