F16 saga refuses to die down

Pakistan's President Pervez Musharraf has said he will postpone the purchase of F-16 fighter planes from the US, saying funds are needed to reconstruct the earth quake devasted state. The quake killed over 70,000 people, the BBC reports

Pakistan had been expected to buy more than 50 planes at up to $40m each. Quake reconstruction is put at $5bn.

This could spell doom to the U.S and the F16 maker Lockheed Martin. In fact, the Bush administration had lifted sanctions on F16 sale to Pak, in a bid to keep the F16 line afloat and save a few thousands jobs at Lockheed Martin.

Am interested to see equity analysts comments on Lockheed Martin next week.