Boeing wins follow-on contract valued up to $23.8 billion from U.S. Defense Department
Reuters
Published Sep 29, 2021 03:01PM ET
Updated Sep 29, 2021 04:52PM ET
(Reuters) - Boeing (NYSE:BA) Co said on Wednesday the U.S. Department of Defense had awarded it a follow-on contract valued at up to $23.8 billion to provide services to a fleet of C-17 Globemaster III transport aircraft over a 10-year period.
Under the agreement, Boeing will continue to provide services including engineering, field support and material management for a fleet of 275 aircraft managed by the United States Air Force and eight global partners, the planemaker said.
Boeing will also lower operating cost per-flight-hour for the fleet under the new agreement, it said.
The new agreement is currently funded through September 2024, the company said, with a Phase I award of $3.5 billion.
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Written By: Reuters
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