By Canadian Press

Lifetime cost of Canada’s F-35 fighter jets is $73.9B: parliamentary budget officer

Nov 2, 2023 | 8:48 AM

OTTAWA — The parliamentary budget officer has pegged the lifetime cost of Canada’s new fleet of F-35 fighter jets at $73.9 billion over 45 years.

Yves Giroux says the cost of the acquisition phase is estimated to be $19.8 billion. 

In January, the federal government announced a deal with Lockheed Martin and the U.S. government to buy 88 jets at a cost of about US$85 million each. 

Defence minister Anita Anand said at the time that the acquisition cost was estimated at $19 billion, and the lifetime cost of the deal would be $70 billion.

The new aircraft are to replace the Royal Canadian Air Force’s aging CF-18s, with the first four planes expected to be delivered in 2026.

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Giroux says his analysis shows the costs are broadly in line with government estimates, but he also warns that a one-year delay in the program would cost about $400 million.

This report by The Canadian Press was first published Nov. 2, 2023.

The Canadian Press