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Tuesday, May 08, 2012

Lockheed wins $237 million more for F-35 work

[F-35 Lightning II]Lockheed Martin Corp has won $237 million in extra funding for a fourth batch of F-35 Joint Strike Fighters to account for changes to the hardware and software of the stealthy, supersonic new warplanes, the Pentagon said on Monday.

The modified contract increases the cap on retrofits needed on early production planes due to issues that arose in testing, which is still continuing, the U.S. Defense Department said in a daily listing of contract awards.

Lockheed said the change would enable the Defense Department to pay for certain changes they want incorporated into the new jets, up to the new cap. Lockheed is responsible for any additional costs beyond the agreed cap.

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