Poland signs $3.8 billion deal to upgrade F-16 fighter jets

BY Reuters | ECONOMIC | 08/13/25 09:12 AM EDT

WARSAW, Aug 13 (Reuters) - Poland has signed a contract worth $3.8 billion to upgrade its fleet of F-16 fighter jets, the Polish defence minister said on Wednesday.

Poland has been ramping up defence spending since the start of the war in Ukraine and plans to allocate 5% of gross domestic product (GDP) to its armed forces in 2026.

The country has 48 F-16C/D Block 52+ aircraft which were delivered to the country between 2006 and 2008, state news agency PAP reported.

Polish Defence Minister Wladys?aw Kosiniak-Kamysz told a news conference that the modernisation work would take place at the Wojskowe Zaklady Lotnicze Nr 2 military aviation plant in the northern city of Bydgoszcz.

"The current capabilities of the F-16 in the CD version are good, but after 20 years, they are insufficient against threats," he told a news conference."

"We must improve reconnaissance capabilities, communication, integration with F-35s, Abrams tanks, and Apaches, as well as the ability to operate in every domain."

Earlier this month Poland signed a second multi-billion dollar deal with South Korean industrial and defence group Hyundai Rotem for the supply of battle tanks. (Reporting by Alan Charlish; Editing by Toby Chopra)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article