Introduces Enhanced Company Contributions To Retirement Program
Lockheed Martin will freeze its salaried defined benefit pension plan and transition employees to an enhanced defined contribution retirement plan, the company announced Tuesday. The change will take effect in a two-step approach, beginning on January 1, 2016 with the freeze of pay-based benefits and concluding with the freeze of service-based benefits on January 1, 2020. The company expects that the plan will be fully frozen effective January 1, 2020.
The U.S. Coast Guard’s fleet of seventeen Airbus HC-144A Ocean Sentry maritime patrol aircraft has completed its first 50,000 hours of flight five years after the start of initial operational capability.
Will Be On Display At The Royal International Air Tattoo, Farnborough International Airshow
Textron AirLand's Scorpion aircraft is progressing on schedule toward a July departure from McConnell Air Force Base in Kansas. The aircraft’s first flight outside the US is planned to cover about 4,700 nautical miles from Wichita to RAF Fairford-Gloucestershire, 73 miles outside of London.
Agreement With Northrop Grumman Will Extend The Advanced Hawkeye Fleet To 50 Airplanes
The U.S. Navy has awarded Northrop Grumman Corporation a $3.6 billion fixed price, incentive fee multiyear contract to deliver 25 new E-2D Advanced Hawkeye aircraft, bringing the total number of aircraft on contract to 50.
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