US lawmakers warn that “more military spending is absolutely necessary” to ensure Pentagon’s readiness
The US Congress has raised concerns about how inflation rates and cuts in main acquisition programmes could affect the US military.
Air Berlin has agreed with Boeing a plan to revise its order book to account for a change in market conditions and in order to meet Air Berlin’s specific operative requirements.
The pair have agreed on a reduction of the number of firm 787 orders from 25 to 15 and to reduce the number of 787 options from 10 to 5. The 10 aircraft order reduction has a current list price of approximately $1.7 billion.
The agreement also provides that the delivery of nine Boeing 737s will be rescheduled to 2015. These aircraft were originally scheduled for delivery in 2010 or 2011.
Ulf Hüttmeyer, Air Berlin’s CFO, remarked, "With a partnership spirit we have mutually agreed with Boeing to adjust the Air Berlin order book to meet Air Berlin’s operational requirements and the market conditions. The agreement with Boeing demonstrates that Air Berlin believes in the future of the 787 aircraft. We look forward to the first delivery in November 2015. For Air Berlin, the agreement means a significant reduction of its financial obligations due to lower and much more distributed investment profile."
The US Congress has raised concerns about how inflation rates and cuts in main acquisition programmes could affect the US military.
Washington’s ageing inventory and the pace Moscow and Beijing have been modernising their capabilities put in check the US Nuclear deterrence.
The Pentagon has been operating under temporary funding since October 2023, which has impacted its main acquisition and development programmes, increasing the capability gap between the US and China.
In 2023, defence spending increased by an unprecedented 11% across European NATO countries and Canada. Since 2014, the group has spent an additional US$600 billion on defence.
The DoD requested nearly US$850 billion to fund operations over the next fiscal year. Despite the amount being 1% higher than the FY2024 budget request, it has not covered the 3% inflation rate, which could impact the DoD’s main programmes in the medium and long term.
As gangs gain control of Port-au-Prince, Haiti’s Caribbean neighbours have been preparing to intervene in the failed state, with the US and other partners waiting in the wings with equipment and financial support.