{"id":50122,"date":"2017-11-02T05:14:03","date_gmt":"2017-11-02T05:14:03","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=50122"},"modified":"2017-11-02T05:14:03","modified_gmt":"2017-11-02T05:14:03","slug":"lockheed-f-35-deliveries-were-halted-for-30-days","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/lockheed-f-35-deliveries-were-halted-for-30-days.html","title":{"rendered":"Lockheed F 35 deliveries were halted for 30 days"},"content":{"rendered":"

Lockheed F 35 deliveries were halted for 30 days<\/span><\/strong><\/span><\/h2>\n

Lockheed F-35 deliveries were halted for 30 days: During routine maintenance at Hill Air Force Base in Utah, the Air Force detected \u201ccorrosion exceeding technical limits\u201d where the carbon fiber exterior panel is fastened to the aluminum airframe. A lack of protective coating at the fastening point that would have prevented corrosion was identified as the primary problem, the Pentagon said.<\/span><\/p>\n

The fastener issue on the current F-35 fleet is not affecting flights, nor is it a safety concern, the Pentagon said. Lockheed is investigating the extent of the corrosion issue across the fleet of more than 250 jets deployed to the U.S. military and its allies.<\/span><\/p>\n

Trading volume for Lockheed\u2019s shares spiked after the news and the stock briefly turned negative. They were last up 0.1 percent at $308.43.<\/span><\/p>\n

Production was not stopped and deliveries for the fighter jet have resumed.<\/span><\/p>\n

\u201cWhile the issue was being evaluated, all F-35 deliveries to our customers were temporarily suspended by the F-35 Joint Program Office from Sept. 21 – Oct. 20 while we determined the corrective action plan,\u201d Lockheed said in a statement.<\/span><\/p>\n

The delivery pause was not expected to derail the Pentagon\u2019s target of accepting 66 jets in 2017. Lockheed, the Maryland-based weapons maker, delivered 46 jets in 2016.<\/span><\/p>\n

The Pentagon said in a statement that although the issue \u201cneeds <\/span>be corrected to prevent potential future corrosion, it does not pose a safety of flight risk to the F-35 fleet or affect current operations.\u201d<\/span><\/p>\n

Lockheed said work instructions for crews building F-35 jets would be reviewed to address the issue. The corrosion was found on an F-35A, the most common model of the jet.<\/span><\/p>\n

This is the latest of several production issues that have arisen in the 17-year history of the Pentagon\u2019s most expensive weapons program. In 2016, a fix for insulation problems in the fuel tanks and lines of the jets caused a slowdown in deliveries.<\/span><\/p>\n

The F-35 business accounts for about a quarter of Lockheed\u2019s total revenue. During the third quarter, sales at Lockheed\u2019s aeronautics business increased 14 percent to $4.7 billion, led by higher sales of the F-35 highlighting the program\u2019s importance to Lockheed\u2019s profitability.<\/span><\/p>\n

In February, the Pentagon agreed to a deal for the tenth batch of the fighter aircraft and agreed to pay below $95 million per jet for the first time, compared with $102 million in the previous purchase, the lowest price up until that point. Around that time, the Pentagon said the price of a jet could fall 16 percent to around $80 million in future purchases.<\/span><\/p>\n

Source:http:\/\/www.reuters.com\/article\/us-lockheed-f35-exclusive\/lockheed-f-35-deliveries-were-halted-for-30-days-pentagon-idUSKBN1D155W<\/span><\/p>\n

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