Boeing Seeks DoD Pledge For 12 More C-17 Cargo Planes
Published: Mon Oct 30th, 2006Source: money.aol.com
WASHINGTON -(Dow Jones)- Boeing Co. (BA) on Monday said it needs the Defense Department to place orders for another dozen C-17 cargo planes soon, or else the company will once again start to halt its production line.Congress added 10 planes to the 2007 defense budget, which allowed Boeing to stave off imminent line shutdown. But the company says the reprieve won't last long because of the nearly three-year lead time required to build each new aircraft.
"We need a DoD commitment in the short few months ahead," said Dave Bowman, Boeing's C-17 program manager, on a conference call with reporters.
Boeing says the Pentagon ought to invest in C-17s now to keep its long-term options open. The company says there are several outstanding studies that could call for more C-17s, which would be either unavailable or impractically expensive if there is a production or supply chain gap.
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