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Air Force

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

Defense Daily Staff

Thursday, October 27th, 2011

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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…

Navy Leaders Downplay Looking At Foreign Navy Shipbuilding Amid Lawmaker Objections

The Navy’s top leaders this week seemed to downplay and back down on the service potentially using foreign shipyards to build U.S. Navy ships or buying foreign designed warships overseas […]

Army

Senate Defense Appropriators See ‘Risk’ With Army’s Reconciliation Plan To Fund Munitions Increase

The Senate’s top defense appropriators cited concern this week with the Army’s request to fund the majority of its large increase to munitions procurement in fiscal year 2027 through the […]

Army

Army Relooking At Its ‘Whole Aviation Transformation’ Plan, Acting Chief Tells Lawmakers

The Army is relooking at its “whole aviation transformation initiative,” the service’s acting chief of staff told lawmakers on Tuesday, to include its approach for future procurement of “enduring” platforms. […]

Army

Lawmakers Request DoD Briefing On Army’s Planned Cuts To Aviation Procurement

A bipartisan group of House lawmakers has sent a letter asking the Pentagon for a briefing on the potential industrial base impacts as a result of the Army’s planned cuts […]