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Investing.com -- Spain has halted plans to purchase F-35 Lightning II fighter jets from Lockheed Martin (NYSE:LMT), according to a report by El Pais newspaper.
The Spanish Defense Ministry had previously made a non-binding request for information about the American-made aircraft but has now shelved these plans, El Pais reported, citing unidentified government sources.
The decision appears to align with Spain’s goal to spend 85% of its defense budget within Europe, which the government views as incompatible with purchasing jets from the United States, according to the newspaper.
Lockheed Martin, the manufacturer of the F-35 Lightning II, recently flagged $1.6 billion in charges as its new chief financial officer conducted a deep financial review of the company’s operations.
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