Costs balloon for USS Ford

|By:, SA News Editor

The newest and costliest U.S. aircraft carrier, built by Newport News Shipbuilding (NYSE:HII), has been dogged by trouble with fundamentals: launching jets from its deck and catching them when they return.

It turns out that the General Atomics system used to capture jets landing on the USS Gerald R. Ford ballooned in cost, tripling to $961M, while the Navy swallowed the charges thanks to a cost-plus contract.

Subscribe for full text news in your inbox