The Pentagon and Lockheed Martin should reach agreement “in the summer timeframe” on a price for Lot 8 low-rate initial production of F-35 strike fighters, said Lorraine Martin, the company’s F-35 program manager, on Monday. She also suggested the deal could be announced as soon as the Farnborough Air Show, which takes place July 14-20 outside of London. At the company’s June 9 media day in Arlington, Va., Martin said “we do expect each LRIP lot will cost less” than the one before it. Lots 6 and 7, which the parties negotiated last year, established prices four percent lower, respectively, than the preceding lots. Asked about prospects for a Farnborough announcement, Martin said, “I like to get things behind me … as quickly as possible.”
The Senate passed Republicans’ sweeping tax-and-spending package July 1 in a 51-50 vote, the culmination of a 27-hour marathon legislative session. The package—often called the reconciliation bill—includes a $150 billion package of defense funds that accounts for a significant portion of the money the Air Force and Space Force want…
