• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

3

Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
TechBoeing

U.S. Navy Chief Warns of Costlier Boeing Jets if No Foreign Sales

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
June 19, 2016, 1:24 PM ET
<h1>Boeing</h1>




<strong>Ranked</strong>: <br />
<a href="http://money.cnn.com/magazines/fortune/fortune500/2012/snapshots/59.html" title="">39</a>  on Fortune 500 <br />
<a href="http://money.cnn.com/magazines/fortune/global500/2012/snapshots/59.html" title="">123</a>  on Global 500 <br />
<a href="http://money.cnn.com/magazines/fortune/most-admired/2012/snapshots/59.html" title="">3</a>  in Aerospace and Defense on  World's Most Admired Companies <br />
<a href="http://money.cnn.com/news/economy/mba100/2012/full_list" title="">48</a>  on 100 Top MBA Employers
<h1>Boeing</h1> <strong>Ranked</strong>: <br /> <a href="http://money.cnn.com/magazines/fortune/fortune500/2012/snapshots/59.html" title="">39</a> on Fortune 500 <br /> <a href="http://money.cnn.com/magazines/fortune/global500/2012/snapshots/59.html" title="">123</a> on Global 500 <br /> <a href="http://money.cnn.com/magazines/fortune/most-admired/2012/snapshots/59.html" title="">3</a> in Aerospace and Defense on World's Most Admired Companies <br /> <a href="http://money.cnn.com/news/economy/mba100/2012/full_list" title="">48</a> on 100 Top MBA EmployersCourtesy of Boeing
Add Fortune on Google for similar content.

The U.S. could see the cost of new Boeing Co F/A-18E/F Super Hornets rise unless the government approves foreign sales of the jets soon, U.S. Navy Secretary Ray Mabus said on Sunday.

Mabus, in Germany for a NATO exercise in the Baltic Sea, told Reuters he was frustrated by delays in approving the sale of the Boeing jets to a close U.S. ally, warning that this could affect the cost of jets the U.S. Navy still wants to buy.

U.S. Navy and other defence officials have said they support the sale of 28 Boeing F/A-18E/F jets to Kuwait for an estimated cost of $3 billion, but this has stalled for nearly a year pending final White House approval.

Mabus said the delays could have an impact on the Navy’s budget plans, since the foreign order was needed to augment U.S. Navy purchases and keep the production line running efficiently.

Iran Finalised the Deal to Buy 100 Boeing Airliners

The U.S. Congress is expected to approve funding for as many as 16 Boeing F/A-18 jets as part of the Navy’s budget request for fiscal 2017, which begins Oct. 1, but that would give Boeing less than the two jets a month it says needs for economical production. The Kuwaiti order would have filled this gap.

“I’m frustrated. A lot of people are frustrated,” Mabus said. “The process is too long, too onerous in terms of getting weapons systems to our friends and to our allies.”

Mabus said Boeing could likely continue F/A-18 production for some time without the foreign sales, but dropping below optimal production rates could affect future pricing.

The Navy had requested funding for two F/A-18 jets in its fiscal 2017 budget request and 14 more as part of its “unfunded priorities list”. It also said it expected to buy a larger number of Super Hornets in fiscal 2018 to bridge a gap in its fleet until the newer and more advanced Lockheed Martin Corp F-35 fighter jet enters service in coming years.

Mabus welcomed possible moves by Congress to add jets to the fiscal 2017 budget, but said those orders alone would not keep production at the Boeing facility running at optimal rates.

For more on Boeing, watch:

“The line wouldn’t be operating as well as it should, and the price probably would go up for us because there aren’t as many planes coming through,” he said.

Boeing welcomed the secretary’s remarks.

“Boeing appreciates the continuing engagement of Secretary Mabus, and agrees that a Kuwaiti order is an important element in continuing a production rate of two per month to keep prices optimal,” Boeing spokeswoman Caroline Hutcheson said.

The company needs to maintain production to remain competitive in bidding for other F/A-18 orders from other countries as it is now spending “hundreds of millions of dollars” to buy long-lead materials such as titanium to prepare for new orders from the Navy and Kuwait.

About the Author
By Reuters
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Current price of Ethereum for July 1, 2026
Personal FinanceEthereum
Current price of Ethereum for July 1, 2026
By Joseph HostetlerJuly 1, 2026
17 minutes ago
In this photo illustration, a Cisco logo is displayed on a smartphone with Artificial Intellingence (AI) symbols in the background.
AICFO Daily
Cisco is rolling out AI agents to every single one of its 90,000 employees
By Sheryl EstradaJuly 1, 2026
40 minutes ago
senate
CommentaryCongress
One rare bipartisan AI bill is moving through Congress. Here’s why it deserves to pass
By Neil Björkman and Betsy BrewerJuly 1, 2026
2 hours ago
I know how Gen Z can survive the ‘jobpocalypse’ because I built an AI company — in 2015
CommentaryCareers
I know how Gen Z can survive the ‘jobpocalypse’ because I built an AI company — in 2015
By Jeremy FainJuly 1, 2026
3 hours ago
OCBC rolls out its ‘avatar banking’ platform with ‘Wendy’ and ‘Wayne,’ two virtual financial advisors, as banks integrate AI into wealth management
AsiaSingapore
OCBC rolls out its ‘avatar banking’ platform with ‘Wendy’ and ‘Wayne,’ two virtual financial advisors, as banks integrate AI into wealth management
By Angelica AngJuly 1, 2026
3 hours ago
Photo: Rocks balancing on driftwood, sea in background.
AIMarkets
Leveraged stock bets are ‘very concentrated in the AI ecosystem,’ Goldman Sachs warns
By Jim EdwardsJuly 1, 2026
4 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
6 days ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
4 days ago
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Success
Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
By Sydney LakeJune 29, 2026
2 days ago
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
AI
'Humanity has chosen to become idiots': This Brown professor switched to take-home exams after a mass shooting and discovered mass cheating
By Catherina GioinoJune 29, 2026
2 days ago
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
Commentary
The U.S. Army is opening military bases to private billions — here's why that changes everything for the next 250 years
By Marc AndersenJune 30, 2026
1 day ago
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
Environment
The retired college professor fighting a $313 trespassing ticket in Wisconsin thinks he's part of a national struggle
By Catherina GioinoJune 28, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.