New Australia Government Would Stick With Old Jet Plan

Australia's conservative opposition, favored to regain power in this weekend's election, won't deviate from the Labor government's plan to buy dozens of new F-35 Joint Strike Fighter jets, its leader said.

Coming at a time when the Labor and Liberal National parties are competing to demonstrate a willingness to restrain government spending, Tony Abbott's remarks will comfort the fighter's U.S. manufacturer, Lockheed Martin Corp. —already facing major defense budget cutbacks at home.

"We do believe that they're the best aircraft for our future," Mr. Abbott told reporters Monday. "If we want to be interoperable with our best ally, obviously it's best if we're using that same aircraft."

Read more