Swiss to Buy Fewer US F-35s After $1.6 Billion Price Hike (1)

Switzerland said it will buy fewer Lockheed Martin Corp. F-35 fighter jets from the US than planned, in an attempt to keep procurement costs within the limit approved by voters.

Bern said in June that it faced additional costs of as much as 1.3 billion Swiss francs ($1.6 billion), due to rising energy and raw material costs. That put it at odds with the US over the original price of 6 billion francs for the purchase of three dozen F-35s.

An F-35 fighter jet during a presentation at Emmen Air Base, Switzerland, in 2022.

Photographer: Fabrice Coffrini/AFP/Getty Images

“Due to the foreseeable additional costs, it is not possible from a financial policy perspective to maintain the ...