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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…

Congress

SASC Approves $1.14 Trillion FY ‘27 NDAA With ‘Right to Repair’ Reform, Stock Buyback Restriction

The Senate Armed Services Committee (SASC) has approved its $1.14 trillion version of the next defense policy bill, adopting “right to repair” reform to provide the military services’ greater ability […]

Congress

House Appropriators Unveil $1.07 Trillion FY ‘27 Defense Bill, Restore Funds For E-7, Army Aviation

House appropriators on Wednesday released their $1.07 trillion fiscal year 2027 defense spending bill, with the legislation reversing Army aviation cuts, restoring funding for the Air Force’s E-7 Wedgetail program […]

Congress

MOSA Implementation By Pentagon Lagging, GAO Official Says

While the Modular Open Systems Approach (MOSA) has been a requirement for major defense acquisition programs since January 2019 and other Defense Department acquisitions since January 2021, few programs are […]

Congress

HASC Wants Info On Army’s Plans To Pursue Autonomous Aerial Delivery, Surface Vessels For Logistics

The House Armed Services Committee (HASC) added several measures to its version of the next defense policy bill seeking more details from the Army on efforts to develop future logistics […]