Air Force Requests 38 Lockheed Planes
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The Air Force plans to buy 38 Lockheed Martin C-130J transports at a cost of $4.4 billion through 2007, according to service budget documents.
The military also is weighing a Lockheed proposal to sell 40 additional transports for $3 billion, military spokeswoman Gloria Cales said.
The Lockheed program has a history of cost overruns, technical problems and delivery delays that will keep it from earning a profit until 120 aircraft are sold. Lockheed has sold 111 and the military plans to buy 168 overall.
Lockheed shares fell 67 cents to $45.61 on the NYSE.
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