Pentagon OKs Lockheed Warplane Move

Posted on: Nov. 6th, 2004 || Source: news.yahoo.com | E-mail Article | Print Article

WASHINGTON (Reuters) - The Pentagon (news - web sites)'s top weapons buyer on Thursday cleared Lockheed Martin Corp.'s (NYSE:LMT - news) continued development of its F-35 Joint Strike Fighter, the biggest warplane project ever and one valued at more than $245 billion, the Defense Department said.
Michael Wynne, the Pentagon's acting undersecretary of defense for acquisition, approved the project's "path forward" and a slimmed-down variant, according to a synopsis of his decisions.

The go-ahead clears the way to shoot for first developmental flight testing of the conventional model in the third quarter of 2006, said Kathy Crawford, a spokeswoman for the Pentagon's F-35 program office.

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