BERLIN - Germany has postponed plans to award a contract to replace its heavy-lift helicopters because the bids on the table are uneconomical, the defence ministry said on Tuesday.

Germany decided to replace its aging fleet of CH-53G transport helicopters in 2017 and launched a tender process in June 2019. Boeing and Lockheed Martin had submitted bids for the contract.

The ministry said the awarding authority had assessed the bids as "uneconomical" and cancelled the tender.

"A conclusion of the contract in 2021 under the current framework conditions can therefore not be achieved," it said in a statement.

(Reporting by Caroline Copley; editing by Thomas Seythal) ((Caroline.Copley@thomsonreuters.com; +49 (0)30 2201 33584 ;))