Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Northrop Grumman Corporation    NOC

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Pentagon suspends F-35 flights due to engine blade crack

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/22/2013 | 09:43pm CET
Handout of Lockheed Martin jet plant in Fort Worth Texas

The Pentagon on Friday suspended the flights of all 51 F-35 fighter planes after a routine inspection revealed a crack on a turbine blade in the jet engine of an F-35 test aircraft in California.

It was the second grounding of the warplane in two months and marked another setback for the $396 billion F-35 Joint Strike Fighter program, the Pentagon's biggest weapons program. The program has already been restructured three times in recent years and may face further cutbacks if Congress does not avert major budget reductions due to take effect on March 1.

The F-35 program office said it was too early to know if this was a fleet-wide issue, but it was suspending all flights until an investigation was completed. A total of 51 F-35 jets were affected, including 17 that are being used for testing and 34 in use for training in Florida and Arizona.

It said it was working closely with Pratt & Whitney, the United Technologies Corp unit that builds the engine, and Lockheed Martin Corp, the prime contractor for the radar-evading warplane, to ensure the integrity of the engine and return the F-35 fleet to flight as soon as possible.

The Pentagon's F-35 program office began notifying the chiefs of the U.S. Air Force, Navy and Marine Corps late on Thursday about the engine issue and decision to ground the planes, said Kyra Hawn, a spokeswoman for the program office.

She said that a routine inspection at Edwards Air Force Base in California on February 19 revealed a crack on a low pressure turbine blade that is part of the F-35's F135 engine. The blade was on an F-35 A-model, or Air Force variant, which takes off and lands from conventional runways.

Pratt spokesman Matthew said the inspection showed "an indication of a crack" on the third stage low pressure turbine airfoil. He said the company was working closely with the Pentagon, Lockheed and the military services to get the planes flying again.

Engineering teams are removing the turbine blade from the plane and plan to ship it to Pratt's engine facility in Middletown, Connecticut, for more thorough evaluation and root cause analysis, according to the Pentagon and Pratt.

Hawn said an initial analysis was expected next week.

The grounding comes on the heels of a nearly month-long grounding of the Marine Corps variant of the new warplane after a manufacturing defect caused a fuel line to detach just before a training flight in Florida.

The Marine Corps variant of the F-35, which takes off from shorter runways and lands like a helicopter, was grounded for nearly a month after a fuel line detached just before a training flight at Eglin Air Force Base in January.

That issue was later found to be caused by a manufacturing defect. The Pentagon and the U.S. Navy lifted flight restrictions on the B-model of the plane on February 13.

(Reporting By Andrea Shalal-Esa; Editing by Gerald E. McCormick and Leslie Adler)

By Andrea Shalal-Esa

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NORTHROP GRUMMAN CORPORATI
01/18 NORTHROP GRUMMAN : to Provide Complete Refresh of Ground-to-Air Radio Communicat..
01/17 NORTHROP GRUMMAN : to Provide Complete Refresh of Ground-to-Air Radio Communicat..
01/13 NORTHROP GRUMMAN : MILITARY $172.67 Million Federal Contract Awarded to Northrop..
01/12 NORTHROP GRUMMAN : MILITARY $160,000 Federal Contract Awarded to Northrop Grumma..
01/12 NORTHROP GRUMMAN : Pentagon Demurs on Explanation of Satellite Debacle
01/10 NORTHROP GRUMMAN : Invitation to Northrop Grumman's Fourth Quarter and 2017 Fina..
01/09 NORTHROP GRUMMAN : U.S. Spy Satellite Believed Lost After SpaceX Mission Fails -..
01/08 Invitation to Northrop Grumman’s Fourth Quarter and 2017 Financial Resu..
01/05 NORTHROP GRUMMAN : Announces Webcast, Conference Call of Fourth Quarter and 2017..
01/05 NORTHROP GRUMMAN : to lay off 85 in March after losing contract
More news
News from SeekingAlpha
01/18 The 1% Dividend Growth Model Portfolio Will Break The Mold And Transform Opin..
01/16 Lockheed Martin upgraded, Northrop Grumman downgraded at Wells Fargo
01/16 WALL STREET BREAKFAST : More Records In Store For Equities
01/16 U.S. plans new nuclear weapons
01/12 Iridium sticks up for SpaceX, blames Northrop in satellite loss
Financials ($)
Sales 2017 25 519 M
EBIT 2017 3 306 M
Net income 2017 2 305 M
Debt 2017 3 831 M
Yield 2017 1,22%
P/E ratio 2017 23,97
P/E ratio 2018 22,16
EV / Sales 2017 2,31x
EV / Sales 2018 2,17x
Capitalization 55 073 M
Chart NORTHROP GRUMMAN CORPORATI
Duration : Period :
Northrop Grumman Corporati Technical Analysis Chart | NOC | US6668071029 | 4-Traders
Technical analysis trends NORTHROP GRUMMAN CORPORATI
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 336 $
Spread / Average Target 6,1%
EPS Revisions
Managers
NameTitle
Wesley G. Bush Chairman & Chief Executive Officer
Kathy J. Warden President & Chief Operating Officer
Kenneth L. Bedingfield Chief Financial Officer & Corporate Vice President
Patrick M. Antkowiak Chief Technology Officer & Vice President
Donald E. Felsinger Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
NORTHROP GRUMMAN CORPORATION3.08%55 073
UNITED TECHNOLOGIES CORPORATION6.53%108 526
LOCKHEED MARTIN CORPORATION3.41%95 196
AIRBUS SE11.80%87 823
GENERAL DYNAMICS2.78%62 434
RAYTHEON4.70%56 858