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2019-08-23 01:28:05

A dispute over budgeting processes could delay NATO's efforts to finalize a $1B contract to extend the life of 14 aging Boeing (NYSE:BA) E-3A surveillance aircraft, Reuters reports.

The NATO agency that manages the AWACS fleet said in June it expected to finalize by December a $750M contract with Boeing to extend the life of the aircraft through 2035, with another $250M earmarked for design, spare parts and testing, but unanimous consent of member states is needed to proceed, and Norway is said to have raised concerns about an uneven flow of funds to the program until its completion by 2027.

Unless the issue is resolved soon, the contract for the Airborne Warning & Control System, or AWACS, program will not be awarded to Boeing in time to be announced as planned at the Dec. 3-4 NATO summit in London, according to the report.

seekingalpha.com Sa Editor Carl Surran
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