Reports: Boeing-Lockheed Team to Drop Protest of Air Force Bomber Contract Award to Northrop

long range bomberThe team of Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT) will not pursue a legal challenge in federal claims court of the U.S. Air Force’s award of the Long Range Strike Bomber contract to Northrop Grumman (NYSE: NOC), Bloomberg reported Friday.

Julie Johnsson writes the decision comes a week after the Government Accountability Office denied a protest filed by the two companies against the award of the LRSB contract to Northrop in October 2015.

Andrea Shalal also reports for Reuters that a source said Air Force Secretary Deborah Lee James is scheduled to announce the official name of the bomber Friday at a conference in Orlando.

Senate Armed Services Committee Chairman John McCain said that he would move to bar the authorization of the bomber program because it is based on a cost-plus contracting model, according to the report.

The Air Force told Reuters that it would set up a meeting with McCain to discuss issues on the program.

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