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Lockheed CFO sees Pentagon sales down 6 percent in 2014

WASHINGTON (Reuters) - Lockheed Martin Corp <LMT.N>, the Pentagon's biggest supplier, expects to feel the continued effect of U.S. budget cuts in 2014, with domestic military sales likely to drop by six percent after a four percent drop in 2013, Chief Financial Office Bruce Tanner told reporters on Tuesday. Tanner said Lockheed expected additional orders for the F-35 fighter jet - the company's single biggest program - from Australia, South Korea, Israel and Singapore, but he did not expect those orders to close in 2014.

Cost to buy F-35 up 2 percent; to operate down 9 percent: Pentagon

By Andrea Shalal WASHINGTON (Reuters) - The Pentagon on Thursday forecast the cost of developing and buying Lockheed Martin Corp's F-35 fighter jet at $398.6 billion, up 2 percent from last year, but said the projected cost to operate and maintain the jets was down about 9 percent. The total cost of the F-35 Joint Strike Fighter, the Pentagon's costliest weapons program, is now seen at $1.42 trillion, down about 6 percent from $1.50 trillion, including research, development, procurement and operations through 2065.

Pentagon sees deal with Lockheed, Pratt on next F-35 lot by end May

By Andrea Shalal WASHINGTON (Reuters) - The U.S. Air Force general who runs the F-35 fighter jet program for the Pentagon said he hoped to reach agreements with both Lockheed Martin Corp and engine-maker Pratt & Whitney by the end of May for the next order of fighter planes.

Pentagon sees deal with Lockheed, Pratt on next F-35 lot by end May

WASHINGTON (Reuters) - The U.S. Air Force general who runs the F-35 fighter jet program for the Pentagon said he expected to reach agreement with both Lockheed Martin Corp and engine-maker Pratt & Whitney by the end of May for the next order of fighter planes. Lieutenant Chris Bogdan told reporters he expected Pratt, a unit of United Technologies Corp to lower the cost of the engine it builds for the fighter plane by more than the 2.5 percent reduction seen in the last contract.

Pratt must push harder to cut F-35 engine cost: Pentagon

By Andrea Shalal WASHINGTON (Reuters) - Pratt & Whitney, the engine-making unit of United Technologies Corp, must redouble efforts to lower the cost of the single F135 engine it builds for the Lockheed Martin Corp F-35 fighter jet, a top U.S. military official said on Monday. Rear Admiral Randy Mahr, deputy director of the Pentagon's $392 billion F-35 program, said Pratt had slowed its cost-cutting after Congress in 2011 canceled an alternate engine being developed by General Electric Co.

U.S. focuses on cheaper, more reliable F-35 jet: Air Force official

By Andrea Shalal WASHINGTON (Reuters) - The U.S. military is working closely with Lockheed Martin Corp and other suppliers to lower the per-plane cost of the F-35 fighter jet and improve its reliability, the chief weapons buyer for the U.S. Air Force said in interview on Monday. Assistant Air Force Secretary William LaPlante said the price of the new A-model F-35 is on track to drop from $112 million now to the mid-$80 million range by 2018 or 2019, but the program is developing plans to drive the price even lower.

U.S. GAO sees $11.5 billion drop in acquisition cost of Lockheed F-35

WASHINGTON (Reuters) - The estimated acquisition cost of Lockheed Martin Corp's F-35 fighter jet program dropped $11.5 billion over the past year, the congressional Government Accountability Office reported Monday in its annual report on U.S. arms programs. The congressional watchdog agency said it now estimates the Pentagon will spend $332.3 billion over coming decades to develop the new radar-evading F-35 jet and buy a total of 2,457 aircraft, about 3.3 percent less than last year's estimate.

Pentagon sees possible delay of software for Navy F-35

By Andrea Shalal WASHINGTON (Reuters) - The software needed for the U.S. Navy's version of Lockheed Martin Corp's F-35 fighter jet could be delayed by four to six months, the U.S. general who runs the $392 billion program for the Pentagon said on Wednesday.

Seoul to request for Lockheed Martin's investment in local fighter jet development

SEOUL, March 25 (Yonhap) -- South Korea is planning to ask United States defense manufacturer Lockheed Martin to finance part of a local project to develop home-made fighter jets when the country begins price negotiations next week with the U.S. firm, a military source said Tuesday. South Korea's arms procurement agency, the Defense Acquisition Program Administration (DAPA), decided on Monday to buy 40 F-35A fighter jets from Lockheed Martin later this year in a deal expected to be worth about 7.4 trillion won (US$6.9 million).

Italy's F-35 jet orders should be frozen, cut: Renzi party document

By Steve Scherer and Antonella Cinelli ROME (Reuters) - Italy should put its order for 90 Lockheed Martin <LMT.N> F-35 fighter jets on hold and probably cut it "significantly", lawmakers in Prime Minister Matteo Renzi's Democratic Party (PD) say, according to a party document.
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