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Saturday, June 11, 2011

House Panel Seeks Report If Boeing Tanker Cost Rises $5 Million

KC-46The U.S. Air Force must report to Congress any cost increase of $5 million or more in the new Boeing Co. aerial tanker program, according to the 2012 Defense Department spending bill approved by the defense subcommittee of the House Appropriations Committee.

Boeing, the sole supplier of refueling tankers to the Air Force since 1948, in February beat European Aeronautic, Defence and Space Co. for a $35 billion program to build 179 new KC-46A tankers. The initial contract for the development phase was valued at $3.5 billion.

The House defense appropriations subcommittee "directs the secretary of the Air Force to report any authorized contract modifications with a cost greater than or equal to" $5 million, no later than 30 days after that change is made, according to the committee report that accompanies the bill. Bloomberg News

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