UPDATE 1-Lockheed says F-35 program not in trouble Reuters: "Lockheed Martin on Wednesday said it was continuing work to sharply reduce the costs of the F-35 fighter and did not believe the program was in trouble despite a report that the Pentagon will cut production of 122 airplanes through 2015.
Lockheed spokesman Chris Geisel said the company was running about four to six months late on finishing the final four of 19 developmental aircraft, which in turn prevented completion of all the flight tests planned by the end of 2009.
But he said the gap was narrowing between Pentagon and Lockheed projections about the cost and time required to complete the development program and the company was continuing its drive to lower overall costs on the program."
