Italy Slashes Lockheed Martin F-35 Order as Debts Prompt Defense Shakeup

Bloomberg – Italy will reduce its planned order for Lockheed Martin Corp. (LMT) F-35 fighter jets by about 40 and trim the size of the military as part of a program to reduce defense spending, Defense Minister Giampaolo Di Paola said today. Italy will purchase 90 F-35s rather than the planned 131, Di Paola said in Rome before a joint defense committee of both houses of parliament. The nation will also slash military manpower by about 30,000 soldiers and 10,000 civilians, he said. Read Article