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Boeing gets $5.3 bln fighter jet contract from US Navy
Boeing Co announced on Tuesday it received a multi-year procurement contract worth about $5.3 billion from the U.S. Navy for its fighter and electronic-warfare aircraft.
As per the terms of the agreement, Boeing will deliver 66 F/A-18E/F Super Hornets and 58 EA-18G Growlers to the Navy from 2012 through 2015.
“Procurement of these 124 aircraft through a multi-year contract takes advantage of the full efficiencies of Boeing's production and supplier operations, which will generate more than $600 million in cost savings for U.S. taxpayers,” the company said.
"Fast action by the Navy today has saved taxpayers over half a billion dollars," Missouri Congressman Todd Akin said in a statement.
By purchasing more much needed planes now, the Navy has taken a crucial step to addressing its looming fighter shortfall, Akin said.
Super Hornet is a multirole aircraft, able to perform virtually every mission in the tactical spectrum, Boeing said, adding that it has delivered more than 430 of the warplanes to the U.S. Navy. The first two F/A-18E/F multi-year contracts generated more than $1.7 billion in savings for the United States, Boeing said.
The EA-18G, the United States' newest combat aircraft, conducts advanced airborne electronic attack (AEA), according to the company. The EA-18G is scheduled for its first combat deployment later this year.
“The men and women of Boeing are honored to provide the Super Hornet's advanced, combat-proven multirole capability and the EA-18G's unmatched airborne electronic attack capability to the American warfighters serving their nation around the world each day,” said Boeing F/A-18 and EA-18 Programs Vice President Kory Mathews.
Shares of Boeing ended Tuesday’s regular trading session 0.99 percent higher at $64.52.
Boeing gets $5.3 bln fighter jet contract from US Navy - International Business Times
