US revamping Boeing missile defence contract
Restructuring drive spurred by multiple test failures, harsh independent review
[WASHINGTON] The Pentagon is restructuring a US$3.48 billion contract with Boeing Co for management of the troubled US homeland missile defence programme, said two sources familiar with the situation.
The system, which faced a critical test yesterday, has failed to hit a dummy missile in five of eight tests since the Bush administration rushed to deploy the system in 2004 to counter growing threats by North Korea. It has not hit a target since 2008.
Another miss could put the brakes on plans by the US Missile Defense Agency (MDA) to spend billions of dollars to improve the Boeing-led Ground-based Midcourse Defense system (GMD), and add 14 more interceptors to the 30 already in the ground in Alaska and California.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
EV automakers get reprieve in US tax credit rules
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Luminar to cut nearly 20% jobs as part of restructuring
Chinese share of French EV market slumps after incentives curbed
Ferrari unveils US$423,000 sports car with 1960s bloodline
Airbus called for compensation to take on money-losing Spirit operations: sources