Presidential Helicopter Funding to Include Lockheed Martin

Published 03/27 2014 04:35PM

Updated 03/27 2014 05:18PM

There appears to be good news for Lockheed Martin and its latest bid to help build a new fleet of presidential helicopters. Lockheed is part of the sole team that has bid on the project.

President Obama has put $388 million into the next fiscal year's proposed budget. There is already $80 million in this year's federal spending plan.

The last presidential helicopter contract that Lockheed was part of, which was cancelled in 2009 due to skyrocketing costs, had become entangled in a political mess. A new fleet is needed.

"The old one is old and outdated. You need not only to keep the President safe but he's got to be in communication no matter where and when and how he is," said Schumer.

Schumer expects the contract to be awarded late this spring or early summer.

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