Peru Pays US$462 Million for 12 F-16 Jets, Then Freezes the Deal
Peru · Defense
Key Facts
- —The deal Peru’s air force signed on April 20, 2026 to buy 12 F-16 Block 70 jets, ten single-seat C models and two twin-seat D models, from Lockheed Martin.
- —The money Lima paid a first installment of US$462 million; the 12 aircraft are priced near US$1.54 billion, inside a US$3.42 billion package Washington cleared in September 2025.
- —The freeze Days after the signing, interim President José María Balcázar moved to postpone the purchase, arguing a caretaker government should not bind the next one.
- —The fallout Defense Minister Carlos Díaz and Foreign Minister Hugo de Zela resigned in late April 2026 over the decision to delay.
- —The fleet The jets would replace Peru’s aging, largely grounded MiG-29 and Mirage 2000 fighters, with first deliveries expected around 2029 to 2030.
The Block 70 order beat Sweden’s Gripen and France’s Rafale, and is meant to retire Peru’s grounded MiG-29 and Mirage 2000 fleets.
Peru has agreed to buy 12 F-16 Block 70 fighter jets from Lockheed Martin, and it has already started paying. In April 2026, Lima signed the contract and wired a first installment of US$462 million.
Days later, a caretaker president slammed on the brakes, throwing the deal into limbo.
What Peru’s F-16 deal actually is
The headline is simple. Peru’s air force, the FAP, agreed to buy 12 F-16 Block 70 fighters, the newest version of Lockheed Martin’s long-running jet.
The order splits into ten single-seat F-16C models and two twin-seat F-16D trainers. Because the contract was signed and part-paid, this is far more than a wish list.
The US$462 million that made it real
On April 20, 2026, officials signed the first phase at Las Palmas Air Base in Lima. Two days later, the finance ministry confirmed it had wired US$462 million to Lockheed Martin.
Reuters reported that payment as the first installment of a multi-billion-dollar deal. So the money moving is what turned a plan into a firm commitment.
How much the F-16 order really costs
The numbers come in layers. The 12 jets themselves cost about US$1.54 billion, while the full first phase, including weapons, training and support, runs near US$2 billion.
That sits inside a larger US$3.42 billion package the US government cleared in September 2025. Peru also holds an option for 12 more jets later, which would roughly double the fleet.
The freeze that stopped everything
Then the politics arrived. Just as the ink dried, interim President José María Balcázar moved to postpone the purchase.
His argument was about timing, not the jets. Because his was a caretaker government, he said it should not lock the next administration into such a huge bill.
Two ministers walk out over the delay
The dispute split the cabinet. In late April 2026, Defense Minister Carlos Díaz and Foreign Minister Hugo de Zela both resigned.
They had championed the deal, so the reversal was a direct rebuke. As a result, the F-16 program lost its two most senior backers overnight.
How the F-16 beat Gripen and Rafale
The contest was crowded. Sweden’s Saab offered the Gripen E/F and France’s Dassault pitched the Rafale, and for a while Peru leaned toward the Gripen.
Then Lima reversed course and picked the F-16. Although the Gripen had led early, the American jet and its US backing ultimately won out.
Replacing a grounded fighter fleet
Peru badly needs new fighters. Its MiG-29s are largely grounded, since Western sanctions on Russia choked off spare parts and support.
Its French-built Mirage 2000s are also aging fast. Therefore the Block 70, with modern radar and precision weapons, is meant to replace both fleets.
Where Washington fits in
The deal deepens Peru’s defense ties with the United States. Meanwhile, Washington approved the sale through its Foreign Military Sales system, which bundles jets, training and long-term support.
It also builds on years of security cooperation, from counter-narcotics missions to the air-surveillance agreements both sides reached in 2024. So the fighters fit a broader tilt toward Washington.
First jets not due until 2029
Nobody should expect Peruvian F-16s soon. Even without the freeze, first deliveries were scheduled for around 2029 and 2030.
That long runway matters. Because production and training take years, any new government has time to confirm, tweak or unwind the order.
What happens next
Overall, the deal is frozen, not dead. Officials describe it as suspended rather than canceled, and the US$462 million has already changed hands.
The decision now sits with President Keiko Fujimori, who took office in late July 2026. Whether she honors, renegotiates or halts the F-16 order will shape Peru’s skies for a generation.
Frequently Asked Questions
How many F-16 jets is Peru buying?
Twelve F-16 Block 70 jets: ten single-seat F-16C and two twin-seat F-16D models from Lockheed Martin. Peru also holds an option to buy 12 more later.
Has Peru actually paid for the jets?
Yes. In April 2026, Lima paid a first installment of US$462 million to Lockheed Martin.
Why was the F-16 deal frozen?
Interim President José María Balcázar moved to postpone it. Saying a caretaker government should not commit the next one to such a large bill.
When will the F-16 jets arrive?
First deliveries were expected around 2029 to 2030. So the aircraft are years away even if the next government keeps the order intact.
Connected Coverage
Sources: Reuters; U.S. DSCA; AeroTime; Army Recognition; Peru Ministry of Economy and Finance.
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