The cost of this sale ($5.5 billion as noted in the article) is more than the entire
of the Philippines.
Presumably they will need to pay it off over many years.
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3 hours ago —
The Philippines plans to seek a long-term loan from Washington to acquire 20 "brand-new" F-16 fighter jets and other defense equipment from the ...
Now the question is for that amount of money, how many kickbacks will the Marcos and Romualdez family get 40%? and with long term loan, it's an ideal way to launder those illegal money making it look legit. This trick had been perfected by the Elder Marcos, during the 70's, when we want to purchase F5E TIGER II fighter plane and in the midway after securing a loan we settled for a refurbished second hand surplus F8 via the US FMA(Foreign Military Assistance).
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In the discussion regarding the Northrop F-5A/B Freedom Fighter fleet of the Philippine Air Force, there was an interesting discussion that is better discussed separately.
So why did the Philippine government select the refurbished Vought F-8H Crusader over brand new Northrop F-5E Tiger II fighters?
Based on declassified documents from the US government, the US government sent a Letter of Offer/Acceptance (LOA) to the Philippine government in 1977 for 11 brand new Northrop F-5E Tiger II fighter aircraft.
Based also on other declassified documents, the 11 fighters was just the first batch of a potential order, as PAf has a total requirement for 36 F-5E/F fighters based on a request made by then Defense Minister Juan Ponce Enrile covering the 5-year AFP Modernization from 1977 to 1981.
But ultimately, the Philippine government decided to purchase 25 refurbished F-8H Crusader fight aircraft plus 10 spare hulks. This was despite a warning from the US government on the supportability of the aircraft due to it already being retired by the US Navy.
There is a possibility that the PAF was after numerical advantage of having 25 fighters instead of just 11. Another reason could be because the F-8H was said to be a better interceptor than the F-5E.
But many of those who lived during the Marcos years, especially those who were in the Marcos administration like my father, also point out to Saudi Arabian businessman and arms dealer Adnan Khashoggi, who helped Vought in selling aircraft, and was close to the Marcoses back in the 1970s for helping the Marcoses hide their loot into the global real estate market. Those who knew of Khashoggi's involvement may know that Marcos had their share on the sale of the F-8s to the PAF, which were said to have been sold to the Philippines at an overpriced amount.
Whatever the reasons are, was it a wise choice for the PAF to get the F-8H rather than the F-5E/F? Would the PAF be still flying F-5E/F Tiger II fighters if it was selected back then?
Photo credits to original sources.