:

Air Force

Lockheed Martin Facing $1.2 Billion In F-35 Termination Liabilities

Defense Daily Staff

Thursday, October 27th, 2011

SHARE:

If the Defense Department fails to provide additional funding for the F-35 fighter program as the fifth production lot, aircraft prime contractor Lockheed Martin [LMT] would face a $1.2 billion termination liability by the end of 2011, the company said yesterday. The termination liability on the next-generation multi-role fighter program stood at about $750 million at the end of September, Lockheed Martin said yesterday as part of the release of its third quarter earnings results. Shortly after Lockheed Martin released…

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]

Congress

Appropriators Offer Skepticism On $350B Defense Reconciliation Plan, ‘Big Risk’ For Key Initiatives

Senate and House Appropriators told Pentagon leadership on Tuesday they’re skeptical of the department’s plan to fund $350 billion of the fiscal year 2027 defense budget through the reconciliation process, […]

Congress

All Future Systems Should Have Autonomy Features, Reed Says

Last week, Sen. Jack Reed (D-R.I.) visited North Kingstown, R.I.-based Senesco, which is teaming with autonomous systems company Havoc to bid on the U.S. Navy’s Medium Unmanned Surface Vessel program. […]