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Thursday, March 28, 2013

Lockheed’s Troubled F-35 Unscathed in Pentagon’s Budget

F-35 Lightning II |The Pentagon wants to spend about $8.4 billion in the next fiscal year to continue developing and purchasing Lockheed Martin Corp.’s F-35, the fighter that is seven years behind schedule and 70 percent over initial cost estimates.

The funding includes $6.36 billion to build all 29 of the F-35s previously planned for 2014, including 19 of the version designed for the Air Force, six for the Marine Corps and four for the Navy, according to a budget document obtained today by Bloomberg News.

The remaining funds would be for continued development and spare parts.

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