Stock Market News
US GAO dismisses Lockheed protest of Textron $7 billion Army helicopter deal
2023.04.06 15:39
© Reuters. FILE PHOTO: The logo of Lockheed Martin is pictured at the Eurosatory international defence and security exhibition in Villepinte, near Paris, France June 13, 2022. REUTERS/Benoit Tessier
WASHINGTON (Reuters) – The U.S. Government Accountability Office on Thursday dismissed Lockheed Martin Corp (NYSE:)’s protest of the Army contract for the Future Long Range-Assault Aircraft awarded to Textron Inc (NYSE:)’s Bell helicopter unit worth as much as a $7.1 billion.
The Army awarded the contract in December in the hopes of ending a years-long competition for its next-generation helicopter and partially replace its fleet of more than 2,000 medium-class UH-60 Black Hawk utility helicopters built by Sikorsky since the 1970s.
The Army has said it plans to fly its remaining Blackhawk fleet through the 2060’s.
