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Air Force Awards Lockheed $132M Contract to Sustain C-5 Airlifters

Lockheed Martin (NYSE: LMT) has received a potential $131.6M contract to perform sustaining engineering work on the U.S. Air Force‘s fleet of C-5 Galaxy airlifters.

The Air Forcewill obligate $23.5M at the time of award from its fiscal 2019 operations and maintenance and transportation working capital funds, the Department of Defense said Friday.

Work will take place in Texas, Georgia and California.

C-5 is designed to carry up to five helicopters or six Mine Resistant Protected Vehicles over far distances.

The company has developed a C-5M variant to transport 20 percent more payload and consume 20 percent less fuel than the legacy platform.

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