Well that will improve delivery and resolution if any associated problems......
https://www.thetimes.co.uk/edition/b...pute-x66l836qt
Cobham takes dive amid Boeing dispute
Boeing, one of the world’s largest aerospace and defence companies, has gone to war with one of its key suppliers in the UK, sending shares in Cobham, the air-to-air refuelling specialist, plummeting close to 15-year lows.
Cobham is the world leader in producing hoses and the conical drogues that enable tanker aircraft to refuel the likes of fighter jets mid-flight. Earlier this decade Cobham signed up to its single biggest contract, worth $1 billion, as the key partner to fit out the US air force’s new-generation Pegasus aerial refuelling and military transporter plane, the Boeing KC-46.
Already heavily lossmaking and classed as an onerous contract by Cobham, the KC-46 Pegasus programme has ejected more bad news, with the prospect of even worse to come. In an unscheduled statement to the stock market, ahead of its half-year results expected next week, Cobham said it was taking another £40 million loss on the contract. That is on top of the £150 million of provisions it has already booked.
It said that Boeing was refusing to pay its invoices for Cobham’s work on the main drogue refuelling system, which hangs out of the tail of the KC-46, and on the refuelling pods located on the aircraft’s wings.
Worse, Cobham was forced to declare that its customer could well be taking it to court. “Boeing has made as yet unquantified damages assertions relating to the programme,” it said. The Dorset-based company said that it was fighting its corner: “Cobham is formally disputing these assertions.”.........