Report: UAE Inks Purchase Deal With US for F-35 Jets, Drones

The U.S. and the United Arab Emirates have signed an agreement for the UAE to buy 50 Lockheed Martin-built (NYSE: LMT) F-35 fighter jets and up to 18 drones, Reuters reported Thursday.

The F-35s are part of a potential $23 billion deal that includes the procurement of high-tech weapons systems from Lockheed, General Atomics and Raytheon Technologies (NYSE: RTX) by the Middle Eastern country.

Sources said the UAE and the U.S. had expected to sign the foreign military sales deal in December but the two parties extended negotiations over jet delivery schedules, cost, training and technology packages.

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