President Joe Biden reportedly wants to cut the number of F-35 jets the Pentagon will buy next year.
Lockheed
Breaking News
After ruling the global aviation sector for over 40 years, the wide-body jumbo jets faces a threat of possible extinction. The Boeing 747 wide-body, long-range jumbo jet faces stiff competition from Airbus A-380. Boeing sees a drop in orders for jumbo jets while Airbus has not received an order for the double-decker A-380 after the major order it won from Emirates Airlines.
Lockheed Martin Corp (LMT.N) said Monday it would buy Sikorsky Aircraft, the helicopter unit of United Technologies Corp (UTX.N), for $9 billion, and would review the possible sale or spinoff of $6 billion in other information technology and services businesses.
The Pentagon on Thursday said Italy and Turkey would provide initial heavy maintenance of Lockheed Martin Corp's new F-35 fighter jet and its engine in Europe from 2018, paving the way for billions of dollars in work by companies there.
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