Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
F-35 jet combat ready next year despite engine fix: Lockheed
http://www.reuters.com/article/2014/09/25/us-lockheed-f-idUSKCN0HK11V20140925
F-35 jet combat ready next year despite engine fix: Lockheed
OSLO Thu Sep 25, 2014 6:10am EDT
(Reuters) - Lockheed Martin (LMT.N) expects the cost of the F-35 fighter jet to drop to its target level by 2019 and still sees the first version of the aircraft combat ready by mid-2015, despite an engine fire which still needs a fix, the firm said on Thursday.
A decision by South Korea on Wednesday to order 40 F-35s for around $7 billion further lowers the program's cost and Lockheed sees the per-unit cost down to $80-$85 million by 2019 from the current rate of around $115 million, Jeff Babione, Lockheed's deputy general manager for the F-35 program told reporters in Oslo.
Lockheed, engine maker Pratt & Whitney, a unit of United Technologies Corp (UTX.N), and other suppliers are investing heavily to drive down the program's projected $400 billion cost, making it more affordable for cash-strapped governments looking to buy over 3,100 aircraft over the next decades.
"The cost reduction will come with the increase in orders," Babione told Reuters on the sidelines of a press conference.
