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Air Force Awards Lockheed Martin $1.5 Billion For C-130Js

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Air Force Awards Lockheed Martin $1.5 Billion For C-130Js
An AC-130J taxis the runway for its first official sortie Jan. 31, 2014, at Eglin AFB, Fla. Photo: Air Force.

The Air Force on Thursday awarded Lockheed Martin [LMT] a $1.5 billion contract modification for C-130J multi-year production aircraft, according to a Defense Department statement.The modification to previously awarded contract FA8625-14-C-6450 is to fully fund and subsume advance procurement funding for long-lead items previously awarded via modification P0004 associated with 28 fiscal year 2016 C-130J aircraft. This supports 14 C-130J, five HC-130J, one MC-130J and seven MC-130J.Work is expected to be completed by July 31, 2019.

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