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Lockheed sees deal soon with Pentagon for 160 more F-35 fighter jets

RAF FAIRFORD, England, July 7 (Reuters) - Lockheed Martin (Swiss: LMT.SW - news) Corp said on Thursday it expects to reach an agreement soon with the U.S (Other OTC: UBGXF - news) . Defense Department about contracts for the next 160 F-35 fighter jets, a deal valued at around $15 billion.

Jeff Babione, Lockheed's F-35 programme manager, told reporters he was "very, very encouraged" by the discussions about the ninth and 10th contracts, which are being conducted in tandem, and expected to finalise a deal with the Pentagon soon.

Babione said the price of the F-35A conventional takeoff and landing jets would drop to under $100 million in the 10th batch of low-rate production jets.

"I know it's going to be less, it's just how much less," he said. He said Lockheed was still working to drive the price of the jets down to around $85 million by 2019. (Reporting by Andrea Shalal; Editing by Susan Fenton)