Boeing is to take a $225 million charge against third-quarter earnings because of excess inventory on the F-15 fighter programme. The hit is in addition to a previously announced charge of $45 million for F-15 inventory.
The company had procured long-lead items in anticipation of export orders for up to 24 F-15s, but then lost competitions in both Greece and Israel to the Lockheed Martin F-16.
All hope of keeping the programme alive now rests on the possibility that Congress may sanction between four and eight F-15s for the US Air Force during the budget conference later this month. "Additional orders from the US Government would keep the F-15 line viable for potential future sales," says Boeing chief executive Phil Condit, adding: "We're continuing aggressive efforts to market the aircraft." A key contest is the South Korean F-X programme.
Source: Flight International
