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Boeing, Lockheed team up for new US Air Force bomber

Boeing and Lockheed Martin said Friday they have teamed up to bid for a new $55 billion US Air Force bomber program. Boeing is acting as the prime contractor, and Lockheed is the main teammate in the bid to supply the Air Force's Long-Range Strike Bomber program, the companies said in a joint statement.

S. Korea mulls hike in fighter jet budget

SEOUL, Oct. 24 (Yonhap) -- The government is considering increasing the 8.3 trillion won (US$7.2 billion) budget to finance a fighter jet project aimed at buying 60 stealth jets, an official source said Thursday. The state arms procurement agency last month rejected Boeing's F-15 Silent Eagle, the only bid that met Seoul's budget, with concerns over its weak stealth capability, and formed a task force team to restart a new project to get advanced, radar-evading aircraft.

Lockheed profit tops estimates; raises full-year outlook

By Andrea Shalal-Esa WASHINGTON (Reuters) - Lockheed Martin Corp <LMT.N>, the No. 1 supplier to the Pentagon, reported on Tuesday higher third-quarter profit despite a 4 percent decline in sales, and lifted its forecast for full-year earnings, even as U.S. military spending shrinks.

S. Korea pushes to complete fighter jet re-tender by end of 2014

By Kim Eun-jung SEOUL, Oct. 17 (Yonhap) -- South Korea's arms procurement agency said Thursday it will speed up the process to buy advanced fighter jets with the aim of concluding the deal by the end of 2014. The Defense Acquisition Program Administration (DAPA) conducted bids with three contractors to buy 60 combat aircraft between June and August, and listed Boeing's F-15 Silent Eagle as the only jet to come within the 8.3 trillion won (US$7.2 billion) budget for approval.

Minor cracks found in part of F-35 B-model fighter plane

WASHINGTON (Reuters) - Two minor cracks were found in a bulkhead of a Lockheed Martin Corp <LMT.N> F-35 B-model during durability testing, but they are not expected to affect flight operations of the planes, a Lockheed spokeswoman said on Thursday. The cracks were discovered during a second round of durability testing and occurred after about 9,400 hours, which equates to more than 17 years of operational flying, said spokeswoman Laura Siebert. The planes are designed to last for about 8,000 hours.

Pentagon to withhold 5 percent of billings for Pratt's F-35 engines

WASHINGTON (Reuters) - Jet engine maker Pratt & Whitney said on Tuesday it is working to fix the system it uses to provide the Pentagon with cost and schedule information, after the U.S. government decided to withhold 5 percent of future billings on four F-35 fighter engine contracts and a Navy deal. Pratt, a unit of United Technologies Corp <UTX.N>, said the Defense Contract Management Agency (DCMA) notified the company about the withholdings last week, citing problems with four of 32 guidelines for Pratt's "earned value management system."

Lockheed, Pentagon cite improved F-35 quality work since end 2012

By Andrea Shalal-Esa WASHINGTON (Reuters) - Lockheed Martin Corp has resolved many quality problems on the $392 billion F-35 fighter jet program since a troubling audit by the Pentagon inspector general's office last year, top U.S. government and industry officials said on Monday. The officials were commenting on a report on the year-long in depth assessment by the inspector general, which was completed in December 2012, but not released until Monday.

Lockheed, Pentagon cite improved F-35 quality work since end 2012

By Andrea Shalal-Esa WASHINGTON (Reuters) - Lockheed Martin Corp has resolved many quality problems on the $392 billion F-35 fighter jet program since a troubling audit by the Pentagon inspector general's office last year, top U.S. government and industry officials said on Monday. The officials were commenting on a report on the year-long assessment by the inspector general, which was completed in December 2012 but not released until Monday.

Pentagon aims to finalize Lockheed F-35 contract within days

WASHINGTON (Reuters) - The Pentagon expects to finalize a contract with Lockheed Martin Corp <LMT.N> for the sixth and seventh batches of F-35 fighter jets within days, the deputy director of the $392 billion program said on Wednesday. Navy Rear Admiral Randy Mahr, the No. 2 official in charge of the F-35 program, said all but two issues had been resolved, and he hoped to get those addressed soon.

Dutch to buy JSF fighter jets in 4.5-bn-euro deal

The Netherlands will buy 37 new F-35 Joint Strike Fighters (JSF) from US-based Lockheed Martin in a deal worth 4.5 billion euros ($6 billion) to replace its ageing fleet of F-16s by 2019, the country's defence minister said Tuesday. Jeanine Hennis-Plasschaert announced the long-debated purchase in a letter to parliament at the presentation of the government's 2014 budget at the Lower House's official opening in The Hague.
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