Cost Overruns And Canceled Orders Pile Up For The F-35

F-35s. Lockheed Martin via Air Force

U.S. Slowdown On F-35 Jet Buy To Raise Cost: Lockheed -- Reuters

A U.S. plan to drag out purchases of the F-35 Joint Strike Fighter jet will increase the total cost paid by the United States and international allies, Lockheed Martin (LMT.N) said on Tuesday.

"It will raise the overall average cost of the total procurement of all the airplanes bought," Tom Burbage, head of Lockheed Martin's F-35 program, said after the Pentagon announced it would slow procurement of the fledgling radar-evading aircraft.

The Pentagon on Monday confirmed plans to postpone production of 179 F-35s over the next five years to save $15.1 billion, including $1.6 billion by funding 13 fewer aircraft in fiscal year 2013.

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More News On The F-35

Pentagon, Lockheed see price of F-35 going up -- Reuters
Pentagon arms buyer sees risk for US F-35 price -- Reuters
Lockheed says F-35 program to remain affordable -- Reuters
Pentagon tells firms keep costs down to get bucks -- Reuters
Lockheed F-35 Chief Says Slow US Purchases Will Boost Average Cost-Reuters -- Nsdaq/Reuters
Pentagon acknowledges F-35 purchase price will rise in face of delays -- Winnipeg Free Press/Canadian press
Amid Cuts USAF Cautiously Funds F-35, Bomber -- Aviation Week
Panetta Says He’s ‘Acutely Aware’ of Lockheed F-35 Challenge -- Bloomberg Businessweek

International F-35 Sales Vital to Cost Stability: DoD -- Defense News
US F-35 production slowdown may delay foreign orders -- Reuters
U.S. F-35 production slowdown may delay foreign orders -- Defense Web
Canada convenes international meeting over troubled F-35 fighters -- Vancouver Sun/Reuters

MacKay won't confirm how many F-35s Canada will buy -- CTV
Canada appears to waver on F-35 purchase -- AFP
Fantino says Canada's F-35 jet purchase 'evolving' -- CBC
Is Canada Finally Getting Ready to Think About A Plan B For the F-35? -- Ottawa Citizen

Italy to cut F-35 fighter orders by 30 percent -- Reuters
Crisis-hit Italy to trim F-35 orders in sweeping defence cutbacks -- Canada.com/AFP
Italy Reduces F-35 Order Amid Military Cuts -- Defense News