Cancellation of Marine One Procurement

Cancellation of Marine One Procurement

Expense Amount: $85,000,000
Year of Expense: 2009
Expense Details:

The VH-71 program receives a stop work order from the Pentagon.

The 5 production and 4 test aircraft would still be the property of the US Navy. The US Navy said that the $85 million 2010 budget request includes money to cover termination costs, government efforts to develop options for a replacement program, and service life extensions for the current presidential helicopter fleet. Some estimates place termination costs as high as $500 million, but that figure remains to be negotiated between Lockheed Martin and the federal government.

Source Type: Website
Source Details: Defense Industry Daily, Oct 2009, Lockheed-Martin US101 Wins, Loses U.S. Presidential Helicopter Contract (updated) http://www.defenseindustrydaily.com/lockheedmartin-us101-wins-us-presidential-helicopter-contract-064/#program
Creation Date: April 12, 2010

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Lockheed Martin(2), Marine One Procurement(1), Marine One(1), VH-71(1), Pentagon(1), aircraft(1), US Navy(1), Federal Government(1),