Boeing isn’t the only aircraft manufacturer in Trump’s crosshairs
Dec 12, 2016, 8:18 AM | Updated: 10:31 am
About a week after slamming Boeing for out-of-control costs on Air Force One, the president-elect Donald Trump blasted Lockheed Martin on Twitter for its F-35 fighter plane program.
The F-35 program and cost is out of control. Billions of dollars can and will be saved on military (and other) purchases after January 20th.
— Donald J. Trump (@realDonaldTrump) December 12, 2016
Retired Army Major and CBS News Military Consultant Mike Lyons says it’s too late to stop the program, but changes could be made. Lyons says Trump is using Twitter as a platform to start tough discussions.
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“He obviously knows what the F-35 program is all about,” Lyons explained. “Recognized the weaknesses of Congress and how the program was developed and how it’s a good example of government and abuse that he wants to change once he becomes president of the United States.”
Lockheed makes the F-35 one-seat fighter aircraft for the U.S. and is a major defense contractor. The F-35 program made up 20 percent of Lockheed’s total revenue last year.
Lockheed Martin Corp. shares fell 4.1 percent to $248.86 in morning stock trading Monday.
Trump says billions of dollars will be saved on military and other purchases following his inauguration.
Last week, aerospace industry expert Richard Aboulafia called Trump’s criticism of Boeing and the cost of new Air Force One planes “complete madness.”
“I scratched my head and thought I might be asleep and might be dreaming … but it turns out I was alive, awake, and at my computer,” Aboulafia said.
Trump turned out to be off-base with his tweet about Boeing. The order Trump told the government to cancel doesn’t actually exist. Boeing is currently under contract for $170 million to determine the capabilities of the aircraft.
“We are currently under contract for $170 million to help determine the capabilities of these complex military aircraft that serve the unique requirements of the President of the United States,” Boeing said in a statement. “We look forward to working with the U.S. Air Force on subsequent phases of the program allowing us to deliver the best planes for the President at the best value for the American taxpayer.”
The Associated Press contributed to this story.
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