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Friday, March 28, 2014

Navy's Sikorsky helicopters cancellation would cost government $250 million

MH-60RThe U.S. Navy's plan to cancel an order for 29 MH-60 Sikorsky helicopters under a current five-year agreement would trigger termination fees of at least $250 million and raise the cost of Army helicopters covered by the same contract, a top U.S. senator said Thursday.

Senate Armed Services Committee Chairman Carl Levin, a Michigan Democrat, criticized the Navy's plan to "break" the multi-year purchase agreement during a hearing on the Navy and Marine Corps budget requests.

"This action would result in the government having to pay termination charges of at least $250 million but get nothing in return," he said.

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