President Donald Trump claimed Monday that Lockheed Martin (LMT) cut $600 million off the cost of the F-35 fighter jet program that he has repeatedly slammed for cost overruns and delays.
Trump said it applied to the next 90 planes. The F-35 currently has a per-unit cost of about $100 million, which the company has pledged to bring down.
"I appreciate Lockheed Martin for being so responsive," Trump told reporters at the White House.
Since his electoral win, Trump has criticized Lockheed and Boeing (BA) for the cost of government contracts. Earlier this month, Lockheed CEO Marillyn Hewson said the company was "very close to a deal" to lower the cost of the fighter program.
Lockheed Martin did not immediately respond to a CNBC request for comment about Trump's announcement.
On Friday, Defense Secretary James Mattis ordered a review of the F-35 program to "determine opportunities to significantly reduce the cost."
The total cost of the program is an estimated $400 billion.
Lockheed shares traded slightly higher on Monday.