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Tuesday, May 03, 2011

Lockheed's F-35 proposal shows cost creeping up

F-35 Lightning IILockheed Martin's proposal for the latest batch of F-35 fighter jets shows the price per plane creeping up on the Pentagon's costliest U.S. weapons program, sources familiar with the program said.

Total costs on the first three production contracts for the new radar-evading warplane and its primary engine overshot their targets by 11 to 15 percent, said Joe DellaVedova, spokesman for the Pentagon's F-35 program office.

The Pentagon has restructured the $382 billion program twice in two years to get a grip on nagging technical issues and repeated cost overruns.

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