• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia
Financemilitary equipment

Greece signs deal to buy 20 U.S.-made F-35 jets from Lockheed Martin for $3.5 billion

By
Derek Gatopoulos
Derek Gatopoulos
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Derek Gatopoulos
Derek Gatopoulos
and
The Associated Press
The Associated Press
Down Arrow Button Icon
July 26, 2024, 6:55 AM ET
A US F-35 fighter jet performs during the opening day of the Dubai Air Show, United Arab Emirates, on Nov. 13, 2023.
A US F-35 fighter jet performs during the opening day of the Dubai Air Show, United Arab Emirates, on Nov. 13, 2023.Kamran Jebreili—AP

Greece formally approved an offer to buy 20 F-35 Joint Strike Fighters from the United States as part of a major defense overhaul, government officials said Thursday.

Recommended Video

Defense Minister Nikos Dendias said while visiting a military air base near Athens that the purchase would create “a powerful deterrent presence in our region.” A letter of acceptance for the deal has been signed and sent to the U.S., he said.

Delivery of the fifth-generation jet made by Lockheed Martin is expected to start in 2028, while Greece maintains the option to purchase 20 additional F-35 jets as part of an $8.6 billion deal.

The purchase of the first 20 jets along with additional support will cost some $3.5 billion, Greek officials said.

Greece is overhauling its military in a decade-long program following a protracted financial crisis and continued tension with neighbor and NATO ally Turkey, mostly over a volatile sea boundary dispute.

Turkey was dropped from the F-35 program five years ago over its decision to buy Russian-made S-400 surface-to-air missile system, a move seen in the United States as compromising NATO security.

In Athens, government spokesman Pavlos Marinakis described the current military modernization campaign as the most significant in “many decades.”

“We will continue to implement this major program, equipping our country and armoring its defenses,” Marinakis said.

Athens has been seeking an advantage in the air since Turkey’s exclusion from F-35 purchases and has also acquired advanced French-made Rafale fighter jets. Deliveries to the Greek air force began in 2021, starting with jets previously used by France’s military that will be supplemented by new aircraft built by French defense contractor Dassault Aviation.

Bridget Lauderdale, Lockheed Martin’s vice president and general manager of the F-35 program, described her company’s aircraft as being ideal to “strengthen Greece’s sovereignty and operational capability with allies.”

“It is our honor to continue (our) relationship as Greece becomes the 19th nation to join the F-35 program,” she said,

The U.S. State Department in January approved the sale that could eventually total 40 F-35 aircraft, along with 42 engines as well as services and equipment including secure communications devices, electronic warfare systems, training, logistics, and maintenance support.

Current members of the F-35 program, either as participants or through military sales, are: the United States, Britain, Italy, the Netherlands, Canada, Australia, Denmark, Norway, Israel, Japan, Korea, Belgium, Poland, Singapore, Finland, Switzerland, Germany, and the Czech Republic.

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Authors
By Derek Gatopoulos
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • Future 50
  • World’s Most Admired Companies
  • See All Rankings
Sections
  • Finance
  • Leadership
  • Success
  • Tech
  • Asia
  • Europe
  • Environment
  • Fortune Crypto
  • Health
  • Retail
  • Lifestyle
  • Politics
  • Newsletters
  • Magazine
  • Features
  • Commentary
  • Mpw
  • CEO Initiative
  • Conferences
  • Personal Finance
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
About Us
  • About Us
  • Editorial Calendar
  • Press Center
  • Work At Fortune
  • Diversity And Inclusion
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Most Popular

placeholder alt text
Politics
Peter Thiel warns the Antichrist and apocalypse are linked to the ‘end of modernity’ currently happening—and cites Greta Thunberg as a driving example
By Nick LichtenbergFebruary 4, 2026
1 day ago
placeholder alt text
Success
After decades in the music industry, Pharrell Williams admits he never stops working: ‘If you do what you love everyday, you’ll get paid for free'
By Emma BurleighFebruary 3, 2026
2 days ago
placeholder alt text
Economy
Trump may have shot himself in the foot at the Fed, as Powell could stay on while Miran resigns from White House post
By Eleanor PringleFebruary 4, 2026
1 day ago
placeholder alt text
Investing
Tech stocks go into free fall as it dawns on traders that AI has the ability to cut revenues across the board
By Jim EdwardsFebruary 4, 2026
2 days ago
placeholder alt text
Investing
Ray Dalio warns the world is ‘on the brink’ of a capital war of weaponizing money—and gold is the best way for people to protect themselves
By Sasha RogelbergFebruary 4, 2026
1 day ago
placeholder alt text
Commentary
I've studied nonviolent resistance in war zones for 20 years and Minnesota reminds me of Colombia, the Philippines and Syria
By Oliver Kaplan and The ConversationFebruary 3, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.


Latest in Finance

A person holding a blue piggy bank
Personal FinanceSavings
Best savings account bonuses for February 2026
By Joseph HostetlerFebruary 5, 2026
3 hours ago
lee
InvestingMarkets
Top analyst Tom Lee on gold’s black swan risk: Elon Musk becoming ‘the new central bank’
By Nick LichtenbergFebruary 5, 2026
4 hours ago
Real EstateHousing
Rocket CEO says U.S. mortgage industry is a ‘tale of two cities.’ His booming business shows a broader reality for American homebuyers
By Sydney LakeFebruary 5, 2026
4 hours ago
arrow pointing down next to Bitcoin logo
CryptoCryptocurrency
Crypto market in free fall as Bitcoin plunges below $70,000 while shares of Coinbase and Circle tumble
By Carlos GarciaFebruary 5, 2026
6 hours ago
Vice President JD Vance looking at a crowd during a speech.
North AmericaU.S. economy
Metals are the new oil, JD Vance pitches to America: ‘There’s no realer thing than critical minerals’
By Tristan BoveFebruary 5, 2026
7 hours ago
lewis, lee
InvestingMarkets
Michael Lewis and Tom Lee hold court on the $1 trillion software-stock carnage: ‘I think fear is not a bad thing to be long right now’
By Nick LichtenbergFebruary 5, 2026
9 hours ago