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Friday, April 06, 2012

Huntington Risks Losing $194 Million on Navy Carrier Cost

[USS Gerald R. Ford (CVN-78)]Huntington Ingalls Industries Inc. stands to loss as much as $194.3 million, more than 40 percent of its potential fee, under the Navy’s latest estimate of overruns for the USS Gerald R. Ford aircraft carrier.

Construction of the Ford, the Navy’s most expensive warship, is likely to exceed by $884 million the shipbuilder’s target contract cost of about $5.2 billion for detailed design and construction, according to Navy officials and the service’s Selected Acquisition Report, obtained after it was delivered to Congress on March 29.

The Ford is intended to be the first in a $40 billion, three-ship class of carriers.

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