LMT - Lockheed's F-35 at risk of costly fixes - Bloomberg

The U.S. and allies buying Lockheed Martin's (NYSE:LMT) F-35 fighter jet may face millions in added costs if serious problems emerge during long-delayed combat simulation tests, Bloomberg reports, citing the annual report by the Government Accountability Office. "If the full-rate production decision occurs in 2023, we estimate that the program will have delivered 1,115 aircraft before finishing operational testing," or about a third of the total projected to be purchased by the U.S. and partner nations, and foreign military sales, which means "more aircraft will need to be fixed later if more performance issues are identified, which will cost more than if those issues were resolved before those aircraft were produced," according to the GAO report, as explained by Bloomberg. While the U.S. "is purchasing aircraft at these high rates, those that are already in the fleet are not performing as well as expected," the GAO said. Germany's Defense Ministry

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Lockheed's F-35 at risk of costly fixes - Bloomberg