Lockheed F-35 Purchases Delayed in Pentagon’s Fiscal 2011 Plan

Jan. 6 (Bloomberg) -- Defense Secretary Robert Gates has directed the military to delay the Lockheed Martin Corp. F-35 program, cutting planned purchases by 10 aircraft in fiscal 2011 and a total of 122 through 2015, according to a budget document.
More than $2.8 billion that was budgeted earlier to buy the military’s next-generation fighter would instead be used to continue its development. The delay is a setback for both Gates and Lockheed.
The defense secretary said last year he wanted to accelerate jet purchases to complete the military’s most expensive weapons program sooner and possibly save money.
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