U.K. Airbus A400M Airlifter Costs Exceed Plan by $1.2 Billion

The Airbus Military A400M airlifter for the U.K. is now running over budget by 770 million pounds ($1.2 billion), according to the British Ministry of Defence.
There is also a cost overrun on a Thales SA (HO) Watchkeeper drone program and a Northrop Grumman Corp. (NOC) electronic system for aircraft, Philip Dunne, a minister for defense, told Parliament in written answers to questions.
The U.K. is acquiring 22 A400M transports to replace Lockheed Martin Corp. (LMT) C-130s, a program running 73 months behind plan, the National Audit Office said. The airlifter is scheduled to enter service with the Royal Air Force in 2015. Lead customer France should get its first plane by the middle of this year.
bloomberg