BETHESDA (dpa-AFX) - President-elect Donald Trump heavily criticized the rising costs of F-35 fighter jet program, which negatively impacted the shares of contractor Lockheed Martin Corp.
'The F-35 program and cost is out of control. Billions of dollars can and will be saved on military (and other) purchases after January 20th,' tweeted Trump on Monday.
Trump claims he will save billions of dollars on military programs once he takes control as the US President next month. LMT shares slipped $6.42 or 2.47% on Monday's regular trading.
F-35, which was initially expected to enter full-scale production in 2008, has become the world's most expensive weapons project with estimated cost of about $379 billion.
The F-35 is a fifth-generation fighter jet that is designed to be largely invisible to radar, fly faster than the speed of sound and incorporate advanced sensors.
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