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Lockheed Martin says will work to reduce F35 jet cost

Air Force One
  • Air Force One is the official aircraft used by the President of the United States.
  • The presidential military aircraft is controlled by the United States Air Force.
  • Air Force One was designated as the President's aircraft, since safety concerns arose regarding transporting the President over commercial airlines.
  • Companies such as Boeing and Lockheed Martin have been building the airplanes.

  • Boeing
  • Boeing is an American multinational company that manufactures airplanes, rockets and satellites.
  • The company is headquartered in Chicago, Illinois.
  • Pitched to be one of the world's largest aircraft manufacturers, Boeing is currently led by Dennis Muilenburg, who serves as President.
  • Founded in 1916, the company has now grown to clock revenues of around $97 billion, and churning profits of almost $5.2 billion.

  • Boeing's reliance on defence and military deals
    American aerospace giant Boeing relies heavily on contracts with the United States' military and and defence wings to help garner a significant amount of revenue for its space and security business. This division is said to be worth over $30 billion.

    Boeing President argues on behalf of international trade
  • Last week, at the Illinois Manufacturers' Association, Boeing's President and CEO Muilenburg argued that international and free trade is essential for the United States.
  • This comes in the wake of US President-elect Donald Trump expressing apprehensions about free international trade.
  • Trump was looking to charge higher tariffs and fees on other countries.
  • Muilenburg suggested that Trump resort to trade negotiations with these countries.

  • Donald Trump looks to cancel Boeing's Air Force One contract
    08 Dec 2016
  • US President-elect Donald Trump, who is set to take office on 20 January 2017, urged the government to cancel the country's Air Force One contract with Boeing.
  • Trump, in a tweet, said that the contract saw heavy costs and he would look to cancel the order.
  • The tweet came just 20 minutes after Boeing's President highlighted the need for Trump to initiate trade negotiations.

  • Donald Trump's tweet sends Boeing's stocks spiralling
    "Boeing is building a brand new 747 Air Force One for future presidents, but costs are out of control, more than $4 billion. Cancel order!" Trump said on Twitter. The tweet wiped out nearly $1 billion off Boeing's market value.

    Lockheed Martin says will work to reduce F35 jet cost
    24 Dec 2016
  • Marillyn Hewson, the chief executive of Lockheed Martin Corp told President-elect Donald Trump that she would work toward driving down the cost of manufacturing the F35 fighter jet.
  • Trump had suggested that Boeing could offer a cheaper alternative to the expensive design that Lockheed Martin had offered.
  • Hewson said "I gave him (Trump) my personal commitment to drive the cost down aggressively."

  • This post first appeared on NewsBytes: Latest News, Breaking News India, Today News, Current News, please read the originial post: here

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    Lockheed Martin says will work to reduce F35 jet cost


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