Israel inched a step closer to acquiring the Joint Strike Fighter (JSF) after Lockheed Martin over the weekend rolled out the new jet, also known as the F-35, in a grand ceremony in Fort Worth, Texas.

During the ceremony, Lockheed Martin announced the official name for the stealth jet - Lightning II, which will be priced at between $40 million and $50m.

"The F-35 Lightning II will carry on the legacy of two of the greatest and most capable fighter aircraft of all time," said Ralph D. Heath, president of Lockheed Martin Aeronautics, referring to the World War II-era P-38 Lightning and the Lightning supersonic jet of the 1950s.

Attendees at the event on Friday included US Deputy Secretary of Defense Gordon England and US Air Force Chief of Staff Gen. T. Michael Moseley.

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