DefenseNews: Lockheed Martin Faces Financial Struggles Due to F-35 Upgrade Contract Delays
DefenseNews : Lockheed Martin's F-35 program is facing significant financial losses due to delays in contract agreements and software integration issues, impacting its 2024 earnings. These setbacks, primarily tied to the new TR-3 upgrade, are straining the company’s financials, but recovery plans are in motion. Contract delays and software problems with the F-35 are costing Lockheed Martin hundreds of millions of dollars, and the company is trying to get the program back on track and start recouping its costs. The F-35 program, one of the …
MiG-21bis likely to serve IAF until 2019
The first supersonic fighter jet of the Indian Air Force — Russian MiG-21bis —which completed 50 years in service this April despite facing criticism following a substantial number of accidents, is likely to remain operational in its upgraded version until 2019 — two years later than they were originally scheduled to be decommissioned. The Air Force took the decision owing to the delay in the commissioning of India’s own Tejas Light Combat Aircraft (LCA) and the purchase of 126 Rafale fighters from France for which the official contract …
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