F-35 News Updates -- June 24, 2011



Report: SASC Supports F-35, ‘But Not At Any Cost’ -- DoD Buzz

Senate lawmakers are sticking by the F-35 Lightning II, but according to a new report by Bloomberg’s Tony Capaccio and Roxana Tiron, they want to put a lid on cost growth for new batches of jets — starting now:

The Senate Armed Services Committee included a provision in the 2012 defense authorization bill that requires the secretary of defense to use a fixed-price contract with an incentive fee for low-rate initial production of the fifth F-35 lot. The provision requires Lockheed to absorb 100 percent of costs “above the target cost specified in the contract.” …

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