Boeing Receives 3 Navy Contracts Valued at Potential $163M for P-8A Components Repair

Boeing P-8A PoseidonBoeing (NYSE: BA) has secured three U.S. Navy contracts with a potential value of $163 million in total for the repair coverage of 421 P-8A aircraft mission system and commercial components.

The Defense Department said Monday two contracts require repair services for 217 mission system components, while the remaining contract covers repair for 204 commercial parts.

DoD noted that each sole-source contract has a one-year base period with two 12-month optional periods.

Funds for all contracts will be provided on a delivery order basis from the Navy’s fiscal 2016 working capital funds.

Boeing will perform work in Seattle, Washington through March 2017 and work could extend until March 2020 if all options are exercised, DoD said.

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