Bell Helicopter said it was updating its civilian helicopter
line as a hedge against maturing military contracts. That move may
be coming just in time. The Pentagon reportedly will cut 24
aircraft, worth $1.75 billion, from its five-year budget for the
Bell-Boeing V-22 Osprey program.
Bloomberg cites officials who have spoken on condition of
anonymity in reporting the reduction from 122 aircraft to 98 will
be part of a final, multi-year contract being negotiated between
the Navy and the manufacturers.
The cut is part of a Defense Department effort to find $259
billion in cuts by the end of fiscal 2017. Other measures are
reported to include delays in 179 F-35 Lightning II fighters, two
Navy combat ships and a submarine, and a delay in developing the
next generation of ballistic-missile submarines.
The V-22 Osprey has been in production since 2005.