Lockheed F-35 faces more delays, cost hikes-sources

[CHIMO]

Lockheed Martin Corp's new F-35 fighter jet may be delayed by up to three years and its development cost could increase by up to $5 billion, sources familiar with the program said on Monday.
Navy Vice Admiral David Venlet briefed Pentagon acquisition chief Ashton Carter on Monday about the draft results of a comprehensive review of the program, said the sources, who were not authorized to speak on the record.
The review was conducted to prepare for a high-level meeting of the Pentagon's Defense Acquisition Board that is scheduled for Nov. 22, the sources said.
The Pentagon has estimated the cost of the F-35 program could reach $382 billion over time, its costliest weapons program ever. The program was restructured earlier this year, adding 13 months to the development phase.
The latest delays stem from problems with software development for the new radar-evading fighter, and technical problems with the short takeoff and landing Marine Corps version of the new fighter, the sources said.
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