Tuesday, March 5, 2013

F-35: LRIP 8 funded

 Just hours before sequestration took effect, LRIP 8 was funded by DoD:
Lockheed Martin Corp. (LMT) received a $333.7 million U.S. downpayment to buy initial parts, components and materials for an eighth batch of F-35 jets, as the Pentagon locked in the funds hours before automatic budget cuts begin.

Yesterday’s action exempts the funds from the across-the- board spending reductions known as sequestration that take effect today because Pentagon officials have said contracts with obligated dollars won’t be cut or terminated. The eighth contract calls for 35 jets, including four aircraft for the U.K. and two for Norway, according to a Pentagon statement.
This will mean two things - continuity in production and lower costs.  And despite all DoD's carping about this and that, they realize the absolute necessity of this program to the future needs of our military and our country.

And hopefully, by the time production run is due, this will all be sorted out.


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