Mar 24, 2014

Boeing U.S. tanker program seen $1 billion over budget

The USAF estimates that development of new refueling plane will cost nearly $1.1 billion more than initially planned. Under the terms of the government's contract mean Boeing must cover the added costs.
The Air Force plans to buy 179 of the new refueling planes to start replacing its fleet ofKC-135 tankers.
The Air Force has repeatedly raised its cost estimates of the development part of the tanker program, but insists that the fixed-price terms of its contract with Boeing will keep cost overruns from affecting the federal budget.
Boeing remains on track to deliver the first 18 refueling planes by August 2017 as scheduled, despite a report from the Pentagon's chief weapons tester that warned that testing could be delayed by at least six to 12 months.

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