Lockheed could see $1B financial ‘impact’ this quarter as F-35 negotiations drag on

Lockheed could see $1B financial ‘impact’ this quarter as F-35 negotiations drag on
Lockheed could see $1B financial ‘impact’ this quarter as F-35 negotiations drag on

“Given where we are in that negotiation, we don’t expect to be completed by the end of this quarter, and that will cause an impact in the quarter — up to about $500 million in sales, and potentially about $500 million of cash flow in the quarter,” Lockheed’s Chief Financial Officer Jay Malave said.

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Pentagon withholding about $5 million per F-35 with unfinished TR-3 upgrade

Pentagon withholding about $5 million per F-35 with unfinished TR-3 upgrade
Pentagon withholding about $5 million per F-35 with unfinished TR-3 upgrade

Following developmental woes, Lockheed Martin plans to invest over $350 million in the F-35 program over the next five years, which the company told Breaking Defense will be geared toward “enhancing capabilities and driving efficiency across the F-35 enterprise.”

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‘Game changer’: Lockheed unveils Poland’s first F-35

‘Game changer’: Lockheed unveils Poland’s first F-35
‘Game changer’: Lockheed unveils Poland’s first F-35

“Poland is the only country in the world that shares the common borders at the same time with Russia, with Ukraine and with Belarus. To keep the borders unchanged, we need the best equipment, the best capability and the best friends,” said Deputy Minister of National Defence Cezary Tomczyk.

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Pentagon still withholding F-35 payments to Lockheed over upgrade delays

Pentagon still withholding F-35 payments to Lockheed over upgrade delays
Pentagon still withholding F-35 payments to Lockheed over upgrade delays

“Since not everything that we contracted for has been delivered, payment is also not complete. We will not pay for that which we have not yet received,” said Air Force acquisition chief Andrew Hunter.

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