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Share Name | Share Symbol | Market | Type |
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Lockheed Martin Corp | NYSE:LMT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 467.08 | 0 | 09:00:00 |
By Doug Cameron
Pratt & Whitney plans this month to start testing a potential fix to the engine problem that caused a Lockheed Martin Corp. F-35 fighter jet to catch fire in June.
Investigators have yet to pin down the cause of the accident, which led to the temporary grounding of the entire F-35 fleet, with flying restrictions still in place that threaten to trigger another delay in the plane's planned entry into combat service next year.
Pratt & Whitney is the sole supplier of the F-35 engine, and before the fire had come under pressure from the Pentagon to improve its execution on the program after a series of cost overruns and performance issues.
"We have a potential fix that we believe will eliminate the problem, and we will conduct engine and rig tests this month to verify that with the Services and the [F-35] Joint Program Office," said a spokesman for Pratt & Whitney, a unit of United Technologies Corp.
Safety investigators have reviewed the fire, saying that excessive friction occurred among blades and other internal parts of an engine. When one of the blades failed, it sparked the fire.
The Pentagon's acquisition chief said earlier Wednesday that investigators are close to identifying the cause of the June 23 fire that hit a jet on the ground at Eglin Air Force Base in Florida
"I am getting, over time, more confident that we've got our arms around that problem and are solving it," said Frank Kendall, U.S. undersecretary of defense for acquisition, technology and logistics, on the sidelines of an industry conference.
Mr. Kendall said the cost of the proposed fix would be minor.
Identifying the problem is taking longer than expected. Lockheed Chief Financial Officer Bruce Tanner in late July said investigators were close to finding the cause.
Write to Doug Cameron at doug.cameron@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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