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

Defense Daily Staff Defense Daily Staff
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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…

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