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Boeing Boondoggle
------------------------------------------------------------------- AVflash Volume 9, Number 28a July 7, 2003 ------------------------------------------------------------------- BOEING GETS AID FUNDS?... It's the U.S.'s largest exporter and by far its largest aerospace company, so when Boeing stamps its feet, the ground shakes under most of us. Lately the Chicago-headquartered manufacturer has been attracting the attention of critics who claim Boeing is drawing too much from the government trough. The Citizens Against Government Waste (CAGW) has formally asked the House Armed Services Subcommittee to oppose a $21 billion deal for Boeing to lease 100 767 aerial tankers to the Air Force. The CAGW claims upgrading the existing fleet of 127 707-based KC-135s would cost $3.8 billion and it also points out that after leasing the 767s for 10 years the planes go back to Boeing. The company is also (according to some) seeing some extremely generous offers from states and towns as it dangles the carrot of 1,000 jobs to be won by the location that will build its new 7E7 Dreamliner. http://www.avweb.com/newswire/9_28a/...85269-1.html#2 ------------------------------------------------------------------ On Thu, 26 Jun 2003 01:07:00 GMT, Larry Dighera wrote in Message-Id: : The Pentagon is working on an amendment to the proposed fiscal 2004 defense budget as a result of its plan to lease 100 BOEING CO. 767s as refueling tankers, a top Air Force official said Tuesday. Air Force Lt. Gen. Michael Zettler, deputy chief of staff for installations and logistics, gave no details about the amount of the request when he testified to the House Armed Forces Committee's subcommittee on projection forces. The hearing was the first of several expected on the controversial proposed $16 billion lease agreement aimed at starting to replace the Air Force's fleet of 543 KC-135 refueling tankers, which average 42 years in age. (Reuters 06:50 PM ET 06/24/2003) Mo http://q1.schwab.com/s/r?l=248&a=833...a&s=rb0306 24 ---------------------------------------------------------------- On Wed, 18 Jun 2003 20:15:49 GMT, Larry Dighera wrote in Message-Id: : Sen. John McCain, who has called a U.S. military contract with BOEING CO. a "rip-off," sent a letter to Boeing Chief Executive Philip Condit requesting documents related to the deal, The Wall Street Journal reported. McCain, the chair of the U.S. Senate's Commerce Committee, is seeking all communication between Boeing and government officials related to the lease, as well as documents from Boeing's interactions with commercial and foreign government customers. A representative of Boeing could not immediately be reached for comment, but a spokesman told the Journal that Boeing received the letter and planned a response. Critics of the deal have called on U.S. lawmakers to delay approval of a $16 billion deal in which the Air Force will lease planes from Boeing to replace its aging fleet of refueling aircraft. (Reuters 05:53 AM ET 06/17/2003) Mo http://q1.schwab.com/s/r?l=248&a=829...a&s=rb0306 17 On Thu, 12 Jun 2003 13:33:18 GMT, Larry Dighera wrote in Message-Id: : Seven independent groups blasted a $16 billion BOEING CO. lease deal with the Air Force as "a profligate waste of taxpayer dollars" and said lawmakers should delay its approval until a criminal investigation into another Boeing contract is completed. Boeing, anticipating the letter, on Monday bought full-page advertisements in major U.S. newspapers, admitting its employees acted improperly during a fierce competition with LOCKHEED MARTIN CORP. for a $2 billion rocket deal. But Boeing Chairman and Chief Executive Phil Condit said the company had taken appropriate action after it learned of the errors and would not tolerate unethical behavior. The Project on Government Oversight, which also signed the letter, rejected Condit's statement and said it had documented 36 cases of misconduct or alleged misconduct by Boeing workers between 1990 and 2002, resulting in about $348 million in fines or penalties, restitution and settlement fees. (Reuters 01:00 AM ET 06/10/2003) Mo http://q1.schwab.com/s/r?l=248&a=826...a&s=rb0306 10 ---------------------------------------------------------------- On Thu, 29 May 2003 13:11:07 GMT, Larry Dighera wrote: U.S. senators will hold a hearing in early June on a $16 billion plan for BOEING CO. to lease 100 modified 767 jets to the Air Force, but congressional aides and defense experts did not expect the deal to run into last-minute problems on Capitol Hill. Despite the Bush administration's approval of the lease, defense experts said they did not expect it to be the harbinger of a new Pentagon preference for leasing military equipment. "It's going to sail through Congress," said Loren Thompson, head of the Virginia-based Lexington Institute. "I don't see it being held up. The Air Force wants it, the administration wants it and some very key people in both houses of Congress want it." (Reuters 05:19 PM ET 05/27/2003) Mo http://q1.schwab.com/s/r?l=248&a=821...a&s=rb0305 27 ---------------------------------------------------------------- On Sun, 25 May 2003 09:49:28 GMT, Larry Dighera wrote: The White House budget office said that scant headway had been made as far as it was concerned toward a proposed multibillion-dollar Air Force tanker-lease deal with BOEING CO. despite a string of high-level meetings. "OMB (Office of Management and Budget) doesn't see a lot of progress since last week," said spokesman Trent Duffy. Deputy Defense Secretary Paul Wolfowitz discussed a revised proposal Tuesday night with both the Pentagon's chief weapons buyer, Edward Aldridge, and Air Force secretary James Roche. Wolfowitz is "taking the proposed tanker lease under advisement," Cheryl Irwin, a Pentagon spokeswoman, said. She said she did not know how long a decision might take. The deal has been under discussion since early last year. (Reuters 06:53 PM ET 05/21/2003) Mo http://q1.schwab.com/s/r?l=248&a=819...a&s=rb0305 21 ---------------------------------------------------------------- Top Pentagon officials late on Tuesday began reviewing the Air Force's plans to lease 100 BOEING CO. 767s as refueling tankers after the company further lowered its price, sources familiar with the agreement said. After nonstop negotiations, Boeing had agreed to lower the price for each of the modified 767-200ER planes below the figure of $136 million reported last week. The price of the overall lease deal -- which critics have blasted as corporate welfare for a company hard hit by a slump in commercial sales -- was now below $17 billion, including the terms of the 6-year lease and an Air Force purchase at the end of the lease, the sources said. The initial deal called for the Air Force to pay $17 billion for the lease, and $4 billion for purchase at the end. (Reuters 05:35 PM ET 05/20/2003) Mo http://q1.schwab.com/s/r?l=248&a=818...a&s=rb0305 20 ---------------------------------------------------------------- On Tue, 13 May 2003 02:14:28 GMT, Larry Dighera wrote: BOEING CO. has agreed to reduce by 6% the price of a multibillion deal to lease 100 767 aircraft to the Air Force as refueling tankers, defense officials said. The officials, who asked not to be named, said Boeing officials had agreed to trim the price of each 767-ER200 aircraft by $9 million to about $141 million each. The officials said a decision on the deal -- which has been in the works for over 18 months -- could come soon. But they said defense officials were at pains to review the agreement very carefully, since it marked the first time the U.S. military would lease -- rather than buy -- such a large number of aircraft. The lease had been expected to cost $17 billion over 6 years, with the Air Force to pay an additional $4 billion to buy the planes at the end of the term. (Reuters 02:01 PM ET 05/12/2003) Mo http://q1.schwab.com/s/r?l=248&a=814...a&s=rb0305 12 ---------------------------------------------------------------- On Fri, 09 May 2003 01:13:04 GMT, Larry Dighera wrote: The Defense Department still has issues to resolve before endorsing a multibillion dollar U.S. Air Force proposal to lease 100 BOEING CO. 767s as refueling tankers, the prime congressional mover behind the plan said Wednesday. "I'm talking to all parties, trying to move this thing forward -- and we're still not quite there yet," said Rep. Norm Dicks, the Washington Democrat who spearheaded the law authorizing the unusual leasing arrangement. The Air Force and Boeing have been working on the proposed lease for more than a year. Their tentative deal involved a $17 billion lease over 6 years, with an option to purchase the aircraft for another $4 billion at the end of the lease. By some accounts, the Defense Department had been expected to sign off any day now following a fresh round of meetings on Friday and over the weekend that reportedly lowered the cost to the Air Force. (Reuters 05:39 PM ET 05/07/2003) Mo http://q1.schwab.com/s/r?l=248&a=812...a&s=rb0305 07 ---------------------------------------------------------------- On Wed, 07 May 2003 17:40:54 GMT, Larry Dighera wrote: Pentagon lawyers are taking a final look at a proposed multibillion Air Force lease of 100 BOEING CO. 767 jets as refueling tankers and the deal could be approved later Tuesday, defense officials said. But sources familiar with the negotiations warned the deal -- which critics blast as a corporate handout to Boeing -- has been in the works for more than 18 months and last-minute issues have delayed its approval more than once. Negotiators from Chicago-based Boeing, the Air Force and the Office of the Secretary of Defense succeeded over the weekend in narrowing the differences between the cost of the deal as estimated by the Air Force and the independent Institute for Defense Analyses, the officials said. Under the terms of the original deal, the Air Force would spend $17 billion to lease the 100 planes for 6 years, paying an additional $4 billion to buy them at the end of the term. (Reuters 12:04 PM ET 05/06/2003) Mo http://q1.schwab.com/s/r?l=248&a=811...a&s=rb0305 06 ========================================== ====================== On Sat, 03 May 2003 04:38:27 GMT, Larry Dighera wrote: BOEING CO. said its plan to lease 100 767 commercial jets to the U.S. Air Force as refueling tankers could generate as much as $2.8 billion in support revenues over the projected life of the proposed $17 billion lease. John Sams, the Boeing official who negotiated the deal with the air force, said each aircraft was projected to spin off $4.8 million a year during the projected 6-year lease, assuming 750 hours of flying time. This figure would include all spare parts, training and simulators, the company said, and total $28.8 million per tanker over the 6 years. If the leases were extended, Boeing's take would rise correspondingly. Under a tentative deal awaiting U.S. Defense Department's approval, the air force would have an option to buy the modified 767s at the end of the lease for a combined $4 billion. (Reuters 11:46 PM ET 05/01/2003) Mo http://q1.schwab.com/s/r?l=248&a=810...a&s=rb0305 01 ========================================= ======================= On Wed, 23 Apr 2003 00:39:24 GMT, Larry Dighera wrote: Top Pentagon and White House officials on May 2 will revisit a controversial $17 billion plan for the Air Force to lease 100 BOEING CO. 767 jets as refueling tankers, sources familiar with the matter said on Monday. Boeing and Air Force officials have been pressing for months to win approval for the unique leasing arrangement that would also give the Air Force the option to buy the jets for $4 billion at the end of the lease. The deal is complicated because the government generally buys rather than leases equipment like tankers. It has also sparked criticism from some lawmakers, the Office of Management and Budget and independent watchdog agencies. (Reuters 05:34 PM ET 04/21/2003) Mo http://q1.schwab.com/s/r?l=248&a=804...a&s=rb0304 21 ======================================== ======================== On Mon, 14 Apr 2003 18:24:19 GMT, Larry Dighera wrote: BOEING CO.'s $17 billion plan to lease 100 of its 767 jets to the U.S. Air Force as refueling tankers faces delay after U.S. Defense Secretary Donald Rumsfeld sought information on purchasing some of the planes, sources familiar with the matter said. Also being informally examined is how the price per plane could drop if another 80 to 100 of the tankers were to be ordered, the sources said. Boeing and Air Force officials have been hoping for months to get final clearance to proceed with the unique leasing arrangement that would also give the Air Force the option to buy the jets for $4 billion at the end of the lease. Pentagon spokesman Glenn Flood dismissed any talk of more than 100 aircraft. "The only plan is for 100. Any increase above 100 would have to be approved by Congress and the White House," he said. (Reuters 05:06 PM ET 04/10/2003) Mo http://q1.schwab.com/s/r?l=248&a=800...a&s=rb0304 10 On Tue, 11 Mar 2003 01:13:00 GMT, Larry Dighera wrote: Defense Secretary Donald Rumsfeld is to review a $21 billion Air Force plan to lease modified 767 BOEING CO. tankers that has come under fire for its cost and financing, according to sources familiar with the deal. Defense Undersecretary Edward "Pete" Aldridge and Pentagon Comptroller Dov Zakheim, who make up a panel that reviews leasing arrangements like the proposed Boeing deal, are due to brief Rumsfeld. He was not expected to approve or reject the deal at Monday's meeting, although sources close to the negotiations said they expected him to make a decision soon. Under the plan, the Air Force would pay $17 billion to lease 100 planes to start replacing the service's fleet of 40-year-old KC-135 tankers. Financial service companies would set up a "special purpose entity" to float bonds to buy the tankers from Boeing, and lease them to the military. (Reuters 05:33 PM ET 03/07/2003) Mo http://q1.schwab.com/s/r?l=248&a=785...a&s=rb0303 07 On Thu, 13 Feb 2003 19:14:37 GMT, Larry Dighera (Larry Dighera) wrote in Message ID fjrn4vkjedt414f5o81d7esh3fkit24eq4@ne ws-server.san.rr.com: BOEING CO. expects a U.S. decision in the next 2 weeks on a $17-billion tanker lease contract, a senior company official said, adding that sales to the UK and others were also under discussion. The world's largest aircraft maker aims to supply 100 tanker versions of its 767 commercial airliner to replace the U.S. Air Force's ageing fleet of KC-135 tankers. "I'm certain we'll have closure on it in the next two weeks," George Muellner, Boeing senior VP for Air Force systems, told defense reporters in London. "We've had dialogue with three or four other countries, other than Italy and Japan," Muellner said. Muellner said Japan had signed a deal this month and Australia was interested. Italy signed a deal for four 767-based tankers last month. (Reuters 01:55 PM ET 01/29/2003) Mo http://q1.schwab.com/s/r?l=248&a=768...a&s=rb0301 29 On Mon, 10 Feb 2003 03:57:25 GMT, Larry Dighera (Larry Dighera) wrote in Message ID 4n8e4v8av75ot2gflip94v7os0460t8uqi@n ews-server.socal.rr.com: Top Pentagon officials aim to decide next week whether to allow the Air Force to lease 100 modified 767 BOEING CO. tankers to replace its ageing fleet, Defense Undersecretary Edward Aldridge said. "It's hard ... It's a major investment," Aldridge said of the controversial $17 billion deal, which would give the Air Force up to 12 new tankers in 2006 and all 100 by 2011. For an additional $4 billion the Air Force would be able to purchase the jets outright at the end of the lease, sources familiar with the deal have said. Aldridge, the Pentagon's chief weapons buyer, favors innovative and flexible approaches to defense procurement, and his office has championed streamlined acquisitions rules aimed at getting weapons to the services more quickly. (Reuters 03:42 PM ET 02/07/2003) Mo http://q1.schwab.com/s/r?l=248&a=773...a&s=rb0302 07 On Wed, 15 Jan 2003 01:12:47 GMT, Larry Dighera (Larry Dighera) wrote in Message ID d7d92v8q5sdkupes0o5fovvhusalh4g9iv@ news-server.socal.rr.com: The U.S. Air Force hopes to win approval in Q1 2003 for a controversial contract to lease 100 767 commercial jets from BOEING CO., sources familiar with the discussions said on Monday. The $17 billion lease contract - aimed at replacing the Air Force's aging fleet of KC-135 tankers -- has been in the works for over a year and still requires approval by top Pentagon officials and U.S. lawmakers, who raised questions last year about the costs of an earlier version of the contract. The deal now under discussion would give the Air Force 11 to 12 new tankers in 2006, with all 100 to be delivered by 2011. For an additional $4 billion, the Air Force will be able to purchase the jets outright at the end of the lease, according to sources familiar with the deal. (Reuters 06:22 PM ET 01/13/2003) Mo http://q1.schwab.com/s/r?l=248&a=759...a&s=rb0301 13 ---------- On Sun, 17 Nov 2002 00:43:37 GMT, Larry Dighera (Larry Dighera) wrote in Message ID ifpdtuovlha5l2fbpreojtfbrjlc3s411s @news-server.san.rr.com: BOEING CO. said it no longer expected to wrap up as early as next month a proposed deal, valued at as much as $18 billion, to lease 100 aerial refueling tankers to the U.S. Air Force. Instead, it may take until early next year to reach agreement with the Air Force, partly because of a new Congress taking office in January, said Jim Albaugh, president and chief executive of Boeing's Integrated Defense Systems unit. "We're in final negotiations with the customer," he told reporters at a briefing on the company's scheduled first launch of its Delta 4 rocket. (Reuters 12:52 PM ET 11/14/2002) Mo http://q1.schwab.com/s/r?l=248&a=737...a&s=rb0211 14 ================================== ============================== On Sun, 10 Nov 2002 12:08:17 GMT, Larry Dighera (Larry Dighera) wrote in Message ID dvissu4135etdu8toc2l6hrje2lji0gdo : BOEING CO. said its proposal to lease 100 aerial refueling tankers would cost the U.S. Air Force about $17 billion, some $10 billion less than previously estimated, with an option to purchase the aircraft for another $4 billion. The current estimate must still be scrutinized by the Pentagon's Cost Analysis Improvement Group, but if accurate, it could ease concern in Congress and at the White House over the initial price tag of $26 billion to $28 billion. "It will turn out to be more like the $17 to $18 billion we are talking about," Boeing's VP for airlift and tanker programs Howard Chambers told Reuters by telephone. "Over the last six months we have gotten more clarity." (Reuters 03:08 PM ET 11/07/2002) Mo http://q1.schwab.com/s/r?l=248&a=734...a&s=rb0211 07 ---------------------------------------------------------------- On Wed, 06 Nov 2002 15:26:33 GMT, Larry Dighera (Larry Dighera) wrote in Message ID i4disug2gpmufjvj7kk9u4iagtrsk3m6 : BOEING CO., still negotiating with the U.S. government, hopes to close a key deal to lease modified 767 jetliners as refueling tankers to the U.S. Air Force by year-end, a spokesman said. The price under discussion is now $17 billion for 100 refueling tankers, down from the originally estimated $26 billion that failed to win approval in Washington, The Wall Street Journal reported. Boeing, the second largest U.S. military contractor, had hoped to close the deal long ago but has been thwarted by concerns over price and the value of buying versus leasing. At one point, rival airplane manufacturer Airbus of Europe was also trying to win the deal. (Reuters 11:42 AM ET 11/05/2002) Mo http://q1.schwab.com/s/r?l=248&a=732...a&s=rb0211 05 On Wed, 04 Sep 2002 01:41:34 GMT, Larry Dighera (Larry Dighera) wrote in Message ID d5panukhiq14qdrpfaelragtu8ehs5f : GENERAL DYNAMICS CORP. said the U.S. Navy had given it and BOEING CO. 30 days to pay $2.3 billion to settle an 11-year legal battle over the Pentagon's abrupt cancellation of the Navy's A-12 fighter jet. "General Dynamics regards this demand as an unseemly negotiating tactic, and an apparent effort to gain advantage during settlement talks," the company said, noting that it would seek an injunction in federal court if the settlement talks failed to reach a result before the 30-day deadline. General Dynamics, Boeing and the Navy were in intense discussions this summer to settle the matter, with one proposal calling for the companies to provide goods and services to the Navy valued at more than $2.5 billion, including discounts on F-18E/F fighter jets it plans to buy in the future. (Reuters 03:19 PM ET 09/03/2002) Mo http://q1.schwab.com/s/r?l=248&a=699...a&s=rb0209 03 =============================== ================================= On Thu, 08 Aug 2002 14:39:41 GMT, Larry Dighera (Larry Dighera) wrote in Message ID fj05lu8e0tt7sihbptme3g7ai8s0q1 : Officials at the U.S. Air Force and aircraft manufacturer BOEING CO. said on Tuesday they were still hammering out an agreement to lease 100 commercial Boeing 767s and convert them to aerial refueling tankers, despite new White House criticism of the proposed deal. White House Budget Director Mitchell Daniels said in a recent letter he would not support any proposal that cost taxpayers more than an outright purchase. "The Air Force and Boeing are still in negotiations," said Air Force spokeswoman Capt. Jessica Smith, noting the current fleet of 545 KC-135 tankers had an average age of 41 years. "We're working to find the best deal for the taxpayers." (Reuters 05:53 PM ET 08/06/2002) Mo http://q1.schwab.com/s/r?l=248&a=687...a&s=rb0208 06 ---------------------------------------------------------------- On Thu, 18 Jul 2002 17:19:32 GMT, "W. D. Allen" (W. D. Allen) wrote in Message ID EMCZ8.6962$ka6.3921471@news3. news.adelphia.net: More like an Air Farce, not a Boeing, boondoggle! Can't sell something to a customer when they do not want it!! Get it right or forget it! WDA end "Larry Dighera" wrote in message news:8j8cjug531sd2e94mknqm7p7 ... BOEING CO. CFO Mike Sears said the aerospace company expects to sign a deal to lease air refueling tankers to the U.S. Air Force by the end of summer. Congress authorized the Air Force in December to negotiate a leasing deal with Boeing for 100 converted 767s to replace some aging KC-135 tankers. White House and congressional budget experts had said it would be cheaper to buy new planes or refurbish the old tankers than sign a 10-year lease with an estimated cost of $26 billion to $37 billion. (Reuters 10:44 AM ET 07/17/2002) Mo http://q1.schwab.com/s/r?l=248&a=674...a&s=rb0207 17 On Fri, 17 May 2002 03:34:14 GMT, Larry Dighera (Larry Dighera) wrote in Message ID : ---------------------------------------------------------------- Boeing Co (BA) (45.00 +0.45) Replacing the oldest U.S. refueling aircraft remains an Air Force priority, the service's secretary and chief of staff told Congress Wednesday amid controversy over a proposed lease of commercial aircraft from BOEING CO. The Air Force said concern about the 43-year-old KC-135Es in its fleet had been heightened by the increased pace of aerial refueling after the Sept. 11 attacks. Air Force Secretary James Roche rejected suggestions that the Air Force could get by with its current refueling fleet for 15 years or more. Replacement needs to start as soon as possible, the Air Force said in a separate letter replying to criticism of the proposed lease deal. (Reuters 04:34 PM ET 05/15/2002) Mo http://q1.schwab.com/s/r?l=248&a=643...a&s=rb0205 15 ---------------------------------------------------------------- On Tue, 14 May 2002 00:55:42 GMT, Larry Dighera (Larry Dighera) wrote in Message ID : ---------------------------------------------------------------- Boeing Co (BA) (44.28 +0.65) The Senate Armed Services Committee moved on Friday to boost congressional oversight of a possible $26 billion Air Force deal to lease BOEING CO. wide-body jets and turn them into refueling tankers. Sen. John McCain said he was clearing the way for public hearings on what he has described as a potential taxpayer "rip-off." A measure adopted by the panel would force the secretary of the Air Force to get specific funding for any lease of Boeing 767 tankers -- a process that could delay any deal to the next budget cycle if enacted into law. (Reuters 05:15 PM ET 05/10/2002) Mo http://q1.schwab.com/s/r?l=248&a=641...1a&s=rb0205 1 0 On Thu, 09 May 2002 15:59:30 GMT, Larry Dighera (Larry Dighera) wrote in Message ID : Boeing Co (BA) (44.41 +1.27) Plans for the U.S. Air Force to lease BOEING CO. 767 commercial aircraft as aerial refueling tankers is an expensive solution that could actually cut overall fuel capacity, according to a White House analysis obtained on Tuesday. Office of Management and Budget Director Mitch Daniels said leasing the 100 767s to start replacing a 40-year-old fleet of KC-135 tankers would cost up to $26 billion and result in a slightly smaller overall fuel capacity. A $3.2 billion upgrade of 126 KC-135s would increase fleet capacity by a similar amount but the Air Force had not chosen this route, Daniels said in a letter to leasing critic, Arizona Republican Sen. John McCain. (Reuters 07:52 PM ET 05/07/2002) Mo http://q1.schwab.com/s/r?l=248&a=639...0925a&s=rb0205 07 On 18 Apr 2002 22:00:27 -0700, (Blain Shinno) (Blain Shinno) wrote in Message ID m: Boeing expects to begin delivering aerial refueling tankers based on its 767 wide-body jetliner, including some for Italian and Japanese forces, by late 2004, with some 100 tankers for the U.S. Air Force rolling off the line beginning in 2005. I wonder how many tankers will be delivered each year. Seems a little long to wait for leased tankers. I wonder when all of them will be delivered? For $26 billion the USAF better have the option of buying the tankers for $1 at the end of the lease. And how does the lease impact the future buy of tankers? When will 767 derivatives start rolling off the line? Following the delivery of leased tankers, or after? How is that going to impact the budget? |
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BOEING CO. said a controversial plan to lease 100 tanker aircraft to the U.S. Air Force would offer good value and speed badly needed planes into service. An Air Force analysis delivered to Congress last Friday showed leasing could cost as much as $1.9 billion more than a straight purchase, more than 10% of the proposed $17.2 billion deal, which would include an option to buy for another $4 billion. Critics including Republican Sen. John McCain of Arizona have blasted the deal as a taxpayer-funded handout to Boeing, which has been badly hurt by a slump in orders for its commercial jets since the Sept. 11, 2001 hijack attacks. But Air Force and Boeing officials argue that the tanker fleet, with an average age of 43 years, urgently needs an upgrade, saying the maintenance savings from the 100 proposed new aircraft would be worth $5 billion. (Reuters 03:24 PM ET 07/14/2003) Mo http://q1.schwab.com/s/r?l=248&a=840...a&s=rb0307 14 ================================================== ============== On Mon, 07 Jul 2003 10:19:06 GMT, Larry Dighera wrote in Message-Id: : ------------------------------------------------------------------- AVflash Volume 9, Number 28a July 7, 2003 ------------------------------------------------------------------- BOEING GETS AID FUNDS?... It's the U.S.'s largest exporter and by far its largest aerospace company, so when Boeing stamps its feet, the ground shakes under most of us. Lately the Chicago-headquartered manufacturer has been attracting the attention of critics who claim Boeing is drawing too much from the government trough. The Citizens Against Government Waste (CAGW) has formally asked the House Armed Services Subcommittee to oppose a $21 billion deal for Boeing to lease 100 767 aerial tankers to the Air Force. The CAGW claims upgrading the existing fleet of 127 707-based KC-135s would cost $3.8 billion and it also points out that after leasing the 767s for 10 years the planes go back to Boeing. The company is also (according to some) seeing some extremely generous offers from states and towns as it dangles the carrot of 1,000 jobs to be won by the location that will build its new 7E7 Dreamliner. http://www.avweb.com/newswire/9_28a/...85269-1.html#2 ------------------------------------------------------------------ On Thu, 26 Jun 2003 01:07:00 GMT, Larry Dighera wrote in Message-Id: : The Pentagon is working on an amendment to the proposed fiscal 2004 defense budget as a result of its plan to lease 100 BOEING CO. 767s as refueling tankers, a top Air Force official said Tuesday. Air Force Lt. Gen. Michael Zettler, deputy chief of staff for installations and logistics, gave no details about the amount of the request when he testified to the House Armed Forces Committee's subcommittee on projection forces. The hearing was the first of several expected on the controversial proposed $16 billion lease agreement aimed at starting to replace the Air Force's fleet of 543 KC-135 refueling tankers, which average 42 years in age. (Reuters 06:50 PM ET 06/24/2003) Mo http://q1.schwab.com/s/r?l=248&a=833...a&s=rb0306 24 ---------------------------------------------------------------- On Wed, 18 Jun 2003 20:15:49 GMT, Larry Dighera wrote in Message-Id: : Sen. John McCain, who has called a U.S. military contract with BOEING CO. a "rip-off," sent a letter to Boeing Chief Executive Philip Condit requesting documents related to the deal, The Wall Street Journal reported. McCain, the chair of the U.S. Senate's Commerce Committee, is seeking all communication between Boeing and government officials related to the lease, as well as documents from Boeing's interactions with commercial and foreign government customers. A representative of Boeing could not immediately be reached for comment, but a spokesman told the Journal that Boeing received the letter and planned a response. Critics of the deal have called on U.S. lawmakers to delay approval of a $16 billion deal in which the Air Force will lease planes from Boeing to replace its aging fleet of refueling aircraft. (Reuters 05:53 AM ET 06/17/2003) Mo http://q1.schwab.com/s/r?l=248&a=829...a&s=rb0306 17 On Thu, 12 Jun 2003 13:33:18 GMT, Larry Dighera wrote in Message-Id: : Seven independent groups blasted a $16 billion BOEING CO. lease deal with the Air Force as "a profligate waste of taxpayer dollars" and said lawmakers should delay its approval until a criminal investigation into another Boeing contract is completed. Boeing, anticipating the letter, on Monday bought full-page advertisements in major U.S. newspapers, admitting its employees acted improperly during a fierce competition with LOCKHEED MARTIN CORP. for a $2 billion rocket deal. But Boeing Chairman and Chief Executive Phil Condit said the company had taken appropriate action after it learned of the errors and would not tolerate unethical behavior. The Project on Government Oversight, which also signed the letter, rejected Condit's statement and said it had documented 36 cases of misconduct or alleged misconduct by Boeing workers between 1990 and 2002, resulting in about $348 million in fines or penalties, restitution and settlement fees. (Reuters 01:00 AM ET 06/10/2003) Mo http://q1.schwab.com/s/r?l=248&a=826...a&s=rb0306 10 ---------------------------------------------------------------- On Thu, 29 May 2003 13:11:07 GMT, Larry Dighera wrote: U.S. senators will hold a hearing in early June on a $16 billion plan for BOEING CO. to lease 100 modified 767 jets to the Air Force, but congressional aides and defense experts did not expect the deal to run into last-minute problems on Capitol Hill. Despite the Bush administration's approval of the lease, defense experts said they did not expect it to be the harbinger of a new Pentagon preference for leasing military equipment. "It's going to sail through Congress," said Loren Thompson, head of the Virginia-based Lexington Institute. "I don't see it being held up. The Air Force wants it, the administration wants it and some very key people in both houses of Congress want it." (Reuters 05:19 PM ET 05/27/2003) Mo http://q1.schwab.com/s/r?l=248&a=821...a&s=rb0305 27 ---------------------------------------------------------------- On Sun, 25 May 2003 09:49:28 GMT, Larry Dighera wrote: The White House budget office said that scant headway had been made as far as it was concerned toward a proposed multibillion-dollar Air Force tanker-lease deal with BOEING CO. despite a string of high-level meetings. "OMB (Office of Management and Budget) doesn't see a lot of progress since last week," said spokesman Trent Duffy. Deputy Defense Secretary Paul Wolfowitz discussed a revised proposal Tuesday night with both the Pentagon's chief weapons buyer, Edward Aldridge, and Air Force secretary James Roche. Wolfowitz is "taking the proposed tanker lease under advisement," Cheryl Irwin, a Pentagon spokeswoman, said. She said she did not know how long a decision might take. The deal has been under discussion since early last year. (Reuters 06:53 PM ET 05/21/2003) Mo http://q1.schwab.com/s/r?l=248&a=819...a&s=rb0305 21 ---------------------------------------------------------------- Top Pentagon officials late on Tuesday began reviewing the Air Force's plans to lease 100 BOEING CO. 767s as refueling tankers after the company further lowered its price, sources familiar with the agreement said. After nonstop negotiations, Boeing had agreed to lower the price for each of the modified 767-200ER planes below the figure of $136 million reported last week. The price of the overall lease deal -- which critics have blasted as corporate welfare for a company hard hit by a slump in commercial sales -- was now below $17 billion, including the terms of the 6-year lease and an Air Force purchase at the end of the lease, the sources said. The initial deal called for the Air Force to pay $17 billion for the lease, and $4 billion for purchase at the end. (Reuters 05:35 PM ET 05/20/2003) Mo http://q1.schwab.com/s/r?l=248&a=818...a&s=rb0305 20 ---------------------------------------------------------------- On Tue, 13 May 2003 02:14:28 GMT, Larry Dighera wrote: BOEING CO. has agreed to reduce by 6% the price of a multibillion deal to lease 100 767 aircraft to the Air Force as refueling tankers, defense officials said. The officials, who asked not to be named, said Boeing officials had agreed to trim the price of each 767-ER200 aircraft by $9 million to about $141 million each. The officials said a decision on the deal -- which has been in the works for over 18 months -- could come soon. But they said defense officials were at pains to review the agreement very carefully, since it marked the first time the U.S. military would lease -- rather than buy -- such a large number of aircraft. The lease had been expected to cost $17 billion over 6 years, with the Air Force to pay an additional $4 billion to buy the planes at the end of the term. (Reuters 02:01 PM ET 05/12/2003) Mo http://q1.schwab.com/s/r?l=248&a=814...a&s=rb0305 12 ---------------------------------------------------------------- On Fri, 09 May 2003 01:13:04 GMT, Larry Dighera wrote: The Defense Department still has issues to resolve before endorsing a multibillion dollar U.S. Air Force proposal to lease 100 BOEING CO. 767s as refueling tankers, the prime congressional mover behind the plan said Wednesday. "I'm talking to all parties, trying to move this thing forward -- and we're still not quite there yet," said Rep. Norm Dicks, the Washington Democrat who spearheaded the law authorizing the unusual leasing arrangement. The Air Force and Boeing have been working on the proposed lease for more than a year. Their tentative deal involved a $17 billion lease over 6 years, with an option to purchase the aircraft for another $4 billion at the end of the lease. By some accounts, the Defense Department had been expected to sign off any day now following a fresh round of meetings on Friday and over the weekend that reportedly lowered the cost to the Air Force. (Reuters 05:39 PM ET 05/07/2003) Mo http://q1.schwab.com/s/r?l=248&a=812...a&s=rb0305 07 ---------------------------------------------------------------- On Wed, 07 May 2003 17:40:54 GMT, Larry Dighera wrote: Pentagon lawyers are taking a final look at a proposed multibillion Air Force lease of 100 BOEING CO. 767 jets as refueling tankers and the deal could be approved later Tuesday, defense officials said. But sources familiar with the negotiations warned the deal -- which critics blast as a corporate handout to Boeing -- has been in the works for more than 18 months and last-minute issues have delayed its approval more than once. Negotiators from Chicago-based Boeing, the Air Force and the Office of the Secretary of Defense succeeded over the weekend in narrowing the differences between the cost of the deal as estimated by the Air Force and the independent Institute for Defense Analyses, the officials said. Under the terms of the original deal, the Air Force would spend $17 billion to lease the 100 planes for 6 years, paying an additional $4 billion to buy them at the end of the term. (Reuters 12:04 PM ET 05/06/2003) Mo http://q1.schwab.com/s/r?l=248&a=811...a&s=rb0305 06 ========================================= ======================= On Sat, 03 May 2003 04:38:27 GMT, Larry Dighera wrote: BOEING CO. said its plan to lease 100 767 commercial jets to the U.S. Air Force as refueling tankers could generate as much as $2.8 billion in support revenues over the projected life of the proposed $17 billion lease. John Sams, the Boeing official who negotiated the deal with the air force, said each aircraft was projected to spin off $4.8 million a year during the projected 6-year lease, assuming 750 hours of flying time. This figure would include all spare parts, training and simulators, the company said, and total $28.8 million per tanker over the 6 years. If the leases were extended, Boeing's take would rise correspondingly. Under a tentative deal awaiting U.S. Defense Department's approval, the air force would have an option to buy the modified 767s at the end of the lease for a combined $4 billion. (Reuters 11:46 PM ET 05/01/2003) Mo http://q1.schwab.com/s/r?l=248&a=810...a&s=rb0305 01 ======================================== ======================== On Wed, 23 Apr 2003 00:39:24 GMT, Larry Dighera wrote: Top Pentagon and White House officials on May 2 will revisit a controversial $17 billion plan for the Air Force to lease 100 BOEING CO. 767 jets as refueling tankers, sources familiar with the matter said on Monday. Boeing and Air Force officials have been pressing for months to win approval for the unique leasing arrangement that would also give the Air Force the option to buy the jets for $4 billion at the end of the lease. The deal is complicated because the government generally buys rather than leases equipment like tankers. It has also sparked criticism from some lawmakers, the Office of Management and Budget and independent watchdog agencies. (Reuters 05:34 PM ET 04/21/2003) Mo http://q1.schwab.com/s/r?l=248&a=804...a&s=rb0304 21 ======================================= ========================= On Mon, 14 Apr 2003 18:24:19 GMT, Larry Dighera wrote: BOEING CO.'s $17 billion plan to lease 100 of its 767 jets to the U.S. Air Force as refueling tankers faces delay after U.S. Defense Secretary Donald Rumsfeld sought information on purchasing some of the planes, sources familiar with the matter said. Also being informally examined is how the price per plane could drop if another 80 to 100 of the tankers were to be ordered, the sources said. Boeing and Air Force officials have been hoping for months to get final clearance to proceed with the unique leasing arrangement that would also give the Air Force the option to buy the jets for $4 billion at the end of the lease. Pentagon spokesman Glenn Flood dismissed any talk of more than 100 aircraft. "The only plan is for 100. Any increase above 100 would have to be approved by Congress and the White House," he said. (Reuters 05:06 PM ET 04/10/2003) Mo http://q1.schwab.com/s/r?l=248&a=800...a&s=rb0304 10 On Tue, 11 Mar 2003 01:13:00 GMT, Larry Dighera wrote: Defense Secretary Donald Rumsfeld is to review a $21 billion Air Force plan to lease modified 767 BOEING CO. tankers that has come under fire for its cost and financing, according to sources familiar with the deal. Defense Undersecretary Edward "Pete" Aldridge and Pentagon Comptroller Dov Zakheim, who make up a panel that reviews leasing arrangements like the proposed Boeing deal, are due to brief Rumsfeld. He was not expected to approve or reject the deal at Monday's meeting, although sources close to the negotiations said they expected him to make a decision soon. Under the plan, the Air Force would pay $17 billion to lease 100 planes to start replacing the service's fleet of 40-year-old KC-135 tankers. Financial service companies would set up a "special purpose entity" to float bonds to buy the tankers from Boeing, and lease them to the military. (Reuters 05:33 PM ET 03/07/2003) Mo http://q1.schwab.com/s/r?l=248&a=785...a&s=rb0303 07 On Thu, 13 Feb 2003 19:14:37 GMT, Larry Dighera (Larry Dighera) wrote in Message ID fjrn4vkjedt414f5o81d7esh3fkit24eq4@n ews-server.san.rr.com: BOEING CO. expects a U.S. decision in the next 2 weeks on a $17-billion tanker lease contract, a senior company official said, adding that sales to the UK and others were also under discussion. The world's largest aircraft maker aims to supply 100 tanker versions of its 767 commercial airliner to replace the U.S. Air Force's ageing fleet of KC-135 tankers. "I'm certain we'll have closure on it in the next two weeks," George Muellner, Boeing senior VP for Air Force systems, told defense reporters in London. "We've had dialogue with three or four other countries, other than Italy and Japan," Muellner said. Muellner said Japan had signed a deal this month and Australia was interested. Italy signed a deal for four 767-based tankers last month. (Reuters 01:55 PM ET 01/29/2003) Mo http://q1.schwab.com/s/r?l=248&a=768...a&s=rb0301 29 On Mon, 10 Feb 2003 03:57:25 GMT, Larry Dighera (Larry Dighera) wrote in Message ID 4n8e4v8av75ot2gflip94v7os0460t8uqi@ news-server.socal.rr.com: Top Pentagon officials aim to decide next week whether to allow the Air Force to lease 100 modified 767 BOEING CO. tankers to replace its ageing fleet, Defense Undersecretary Edward Aldridge said. "It's hard ... It's a major investment," Aldridge said of the controversial $17 billion deal, which would give the Air Force up to 12 new tankers in 2006 and all 100 by 2011. For an additional $4 billion the Air Force would be able to purchase the jets outright at the end of the lease, sources familiar with the deal have said. Aldridge, the Pentagon's chief weapons buyer, favors innovative and flexible approaches to defense procurement, and his office has championed streamlined acquisitions rules aimed at getting weapons to the services more quickly. (Reuters 03:42 PM ET 02/07/2003) Mo http://q1.schwab.com/s/r?l=248&a=773...a&s=rb0302 07 On Wed, 15 Jan 2003 01:12:47 GMT, Larry Dighera (Larry Dighera) wrote in Message ID d7d92v8q5sdkupes0o5fovvhusalh4g9iv @news-server.socal.rr.com: The U.S. Air Force hopes to win approval in Q1 2003 for a controversial contract to lease 100 767 commercial jets from BOEING CO., sources familiar with the discussions said on Monday. The $17 billion lease contract - aimed at replacing the Air Force's aging fleet of KC-135 tankers -- has been in the works for over a year and still requires approval by top Pentagon officials and U.S. lawmakers, who raised questions last year about the costs of an earlier version of the contract. The deal now under discussion would give the Air Force 11 to 12 new tankers in 2006, with all 100 to be delivered by 2011. For an additional $4 billion, the Air Force will be able to purchase the jets outright at the end of the lease, according to sources familiar with the deal. (Reuters 06:22 PM ET 01/13/2003) Mo http://q1.schwab.com/s/r?l=248&a=759...a&s=rb0301 13 ---------- On Sun, 17 Nov 2002 00:43:37 GMT, Larry Dighera (Larry Dighera) wrote in Message ID ifpdtuovlha5l2fbpreojtfbrjlc3s411 : BOEING CO. said it no longer expected to wrap up as early as next month a proposed deal, valued at as much as $18 billion, to lease 100 aerial refueling tankers to the U.S. Air Force. Instead, it may take until early next year to reach agreement with the Air Force, partly because of a new Congress taking office in January, said Jim Albaugh, president and chief executive of Boeing's Integrated Defense Systems unit. "We're in final negotiations with the customer," he told reporters at a briefing on the company's scheduled first launch of its Delta 4 rocket. (Reuters 12:52 PM ET 11/14/2002) Mo http://q1.schwab.com/s/r?l=248&a=737...a&s=rb0211 14 ================================= =============================== On Sun, 10 Nov 2002 12:08:17 GMT, Larry Dighera (Larry Dighera) wrote in Message ID dvissu4135etdu8toc2l6hrje2lji0gd : BOEING CO. said its proposal to lease 100 aerial refueling tankers would cost the U.S. Air Force about $17 billion, some $10 billion less than previously estimated, with an option to purchase the aircraft for another $4 billion. The current estimate must still be scrutinized by the Pentagon's Cost Analysis Improvement Group, but if accurate, it could ease concern in Congress and at the White House over the initial price tag of $26 billion to $28 billion. "It will turn out to be more like the $17 to $18 billion we are talking about," Boeing's VP for airlift and tanker programs Howard Chambers told Reuters by telephone. "Over the last six months we have gotten more clarity." (Reuters 03:08 PM ET 11/07/2002) Mo http://q1.schwab.com/s/r?l=248&a=734...a&s=rb0211 07 ---------------------------------------------------------------- On Wed, 06 Nov 2002 15:26:33 GMT, Larry Dighera (Larry Dighera) wrote in Message ID i4disug2gpmufjvj7kk9u4iagtrsk3m : BOEING CO., still negotiating with the U.S. government, hopes to close a key deal to lease modified 767 jetliners as refueling tankers to the U.S. Air Force by year-end, a spokesman said. The price under discussion is now $17 billion for 100 refueling tankers, down from the originally estimated $26 billion that failed to win approval in Washington, The Wall Street Journal reported. Boeing, the second largest U.S. military contractor, had hoped to close the deal long ago but has been thwarted by concerns over price and the value of buying versus leasing. At one point, rival airplane manufacturer Airbus of Europe was also trying to win the deal. (Reuters 11:42 AM ET 11/05/2002) Mo http://q1.schwab.com/s/r?l=248&a=732...a&s=rb0211 05 On Wed, 04 Sep 2002 01:41:34 GMT, Larry Dighera (Larry Dighera) wrote in Message ID d5panukhiq14qdrpfaelragtu8ehs5 : GENERAL DYNAMICS CORP. said the U.S. Navy had given it and BOEING CO. 30 days to pay $2.3 billion to settle an 11-year legal battle over the Pentagon's abrupt cancellation of the Navy's A-12 fighter jet. "General Dynamics regards this demand as an unseemly negotiating tactic, and an apparent effort to gain advantage during settlement talks," the company said, noting that it would seek an injunction in federal court if the settlement talks failed to reach a result before the 30-day deadline. General Dynamics, Boeing and the Navy were in intense discussions this summer to settle the matter, with one proposal calling for the companies to provide goods and services to the Navy valued at more than $2.5 billion, including discounts on F-18E/F fighter jets it plans to buy in the future. (Reuters 03:19 PM ET 09/03/2002) Mo http://q1.schwab.com/s/r?l=248&a=699...a&s=rb0209 03 ============================== ================================== On Thu, 08 Aug 2002 14:39:41 GMT, Larry Dighera (Larry Dighera) wrote in Message ID fj05lu8e0tt7sihbptme3g7ai8s0q : Officials at the U.S. Air Force and aircraft manufacturer BOEING CO. said on Tuesday they were still hammering out an agreement to lease 100 commercial Boeing 767s and convert them to aerial refueling tankers, despite new White House criticism of the proposed deal. White House Budget Director Mitchell Daniels said in a recent letter he would not support any proposal that cost taxpayers more than an outright purchase. "The Air Force and Boeing are still in negotiations," said Air Force spokeswoman Capt. Jessica Smith, noting the current fleet of 545 KC-135 tankers had an average age of 41 years. "We're working to find the best deal for the taxpayers." (Reuters 05:53 PM ET 08/06/2002) Mo http://q1.schwab.com/s/r?l=248&a=687...a&s=rb0208 06 ---------------------------------------------------------------- On Thu, 18 Jul 2002 17:19:32 GMT, "W. D. Allen" (W. D. Allen) wrote in Message ID EMCZ8.6962$ka6.3921471@news3 .news.adelphia.net: More like an Air Farce, not a Boeing, boondoggle! Can't sell something to a customer when they do not want it!! Get it right or forget it! WDA end "Larry Dighera" wrote in message news:8j8cjug531sd2e94mknqm7p ... BOEING CO. CFO Mike Sears said the aerospace company expects to sign a deal to lease air refueling tankers to the U.S. Air Force by the end of summer. Congress authorized the Air Force in December to negotiate a leasing deal with Boeing for 100 converted 767s to replace some aging KC-135 tankers. White House and congressional budget experts had said it would be cheaper to buy new planes or refurbish the old tankers than sign a 10-year lease with an estimated cost of $26 billion to $37 billion. (Reuters 10:44 AM ET 07/17/2002) Mo http://q1.schwab.com/s/r?l=248&a=674...a&s=rb0207 17 On Fri, 17 May 2002 03:34:14 GMT, Larry Dighera (Larry Dighera) wrote in Message ID : ---------------------------------------------------------------- Boeing Co (BA) (45.00 +0.45) Replacing the oldest U.S. refueling aircraft remains an Air Force priority, the service's secretary and chief of staff told Congress Wednesday amid controversy over a proposed lease of commercial aircraft from BOEING CO. The Air Force said concern about the 43-year-old KC-135Es in its fleet had been heightened by the increased pace of aerial refueling after the Sept. 11 attacks. Air Force Secretary James Roche rejected suggestions that the Air Force could get by with its current refueling fleet for 15 years or more. Replacement needs to start as soon as possible, the Air Force said in a separate letter replying to criticism of the proposed lease deal. (Reuters 04:34 PM ET 05/15/2002) Mo http://q1.schwab.com/s/r?l=248&a=643...a&s=rb0205 15 ---------------------------------------------------------------- On Tue, 14 May 2002 00:55:42 GMT, Larry Dighera (Larry Dighera) wrote in Message ID : ---------------------------------------------------------------- Boeing Co (BA) (44.28 +0.65) The Senate Armed Services Committee moved on Friday to boost congressional oversight of a possible $26 billion Air Force deal to lease BOEING CO. wide-body jets and turn them into refueling tankers. Sen. John McCain said he was clearing the way for public hearings on what he has described as a potential taxpayer "rip-off." A measure adopted by the panel would force the secretary of the Air Force to get specific funding for any lease of Boeing 767 tankers -- a process that could delay any deal to the next budget cycle if enacted into law. (Reuters 05:15 PM ET 05/10/2002) Mo http://q1.schwab.com/s/r?l=248&a=641...1a&s=rb0205 1 0 On Thu, 09 May 2002 15:59:30 GMT, Larry Dighera (Larry Dighera) wrote in Message ID : Boeing Co (BA) (44.41 +1.27) Plans for the U.S. Air Force to lease BOEING CO. 767 commercial aircraft as aerial refueling tankers is an expensive solution that could actually cut overall fuel capacity, according to a White House analysis obtained on Tuesday. Office of Management and Budget Director Mitch Daniels said leasing the 100 767s to start replacing a 40-year-old fleet of KC-135 tankers would cost up to $26 billion and result in a slightly smaller overall fuel capacity. A $3.2 billion upgrade of 126 KC-135s would increase fleet capacity by a similar amount but the Air Force had not chosen this route, Daniels said in a letter to leasing critic, Arizona Republican Sen. John McCain. (Reuters 07:52 PM ET 05/07/2002) Mo http://q1.schwab.com/s/r?l=248&a=639...0925a&s=rb0205 07 On 18 Apr 2002 22:00:27 -0700, (Blain Shinno) (Blain Shinno) wrote in Message ID m: Boeing expects to begin delivering aerial refueling tankers based on its 767 wide-body jetliner, including some for Italian and Japanese forces, by late 2004, with some 100 tankers for the U.S. Air Force rolling off the line beginning in 2005. I wonder how many tankers will be delivered each year. Seems a little long to wait for leased tankers. I wonder when all of them will be delivered? For $26 billion the USAF better have the option of buying the tankers for $1 at the end of the lease. And how does the lease impact the future buy of tankers? When will 767 derivatives start rolling off the line? Following the delivery of leased tankers, or after? How is that going to impact the budget? |
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