Advertisement
Singapore markets open in 5 hours 35 minutes

  • Straits Times Index

    3,187.66
    +32.97 (+1.05%)
     

  • S&P 500

    5,010.30
    -11.91 (-0.24%)
     

  • Dow

    37,765.35
    +12.04 (+0.03%)
     

  • Nasdaq

    15,609.86
    -73.51 (-0.47%)
     

  • Bitcoin USD

    63,316.66
    +2,292.08 (+3.76%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • FTSE 100

    7,877.05
    +29.06 (+0.37%)
     

  • Gold

    2,399.50
    +11.10 (+0.46%)
     

  • Crude Oil

    82.68
    -0.01 (-0.01%)
     

  • 10-Yr Bond

    4.6470
    +0.0620 (+1.35%)
     

  • Nikkei

    38,079.70
    +117.90 (+0.31%)
     

  • Hang Seng

    16,385.87
    +134.03 (+0.82%)
     

  • FTSE Bursa Malaysia

    1,544.76
    +4.34 (+0.28%)
     

  • Jakarta Composite Index

    7,166.81
    -7,130.84 (-49.87%)
     

  • PSE Index

    6,523.19
    +73.15 (+1.13%)
     

Lockheed says F-35 investments will save $1.8 billion by 2019

Reuters

RAF FAIRFORD England (Reuters) - Industry investment of $170 million (99.36 million pounds) over the next two years is expected to result in savings of $1.8 billion on the F-35 Joint Strike Fighter programme, Lockheed Martin Corp's (LMT.N) F-35 programme manager Lorraine Martin told reporters on Thursday.

Martin said the savings would cut the cost of each F-35 fighter jet by about $10 million to about $80 million, including an engine.

The Pentagon announced the "Blueprint for Affordability" initiative earlier, noting that Lockheed, the prime contractor for the programme, and two main subcontractors, Northrop Grumman Corp (NOC.N) and Britain's BAE Systems Plc (BAES.L), would recoup their investment and any profit only after the cost reductions were realized.

(Reporting by Andrea Shalal; Editing by Mark Potter)