"DOD Expects Fourth JSF Production Batch To Exceed Target Cost By $534 Million"
"The price tag for the Joint Strike Fighter's fourth production run could be $534 million higher than originally expected, a 12.5 percent increase propelled by an estimated $289 million in additional costs to correct deficiencies uncovered during F-35 flight testing, according to the Defense Department."
From the Huffington Post story about this article:
"The Inside Defense report continued that "In testimony prepared for Congress last month, Pentagon acquisition officials -- including acting acquisition chief, Frank Kendall, and Vice Adm. David Venlet, director of the F-35 program office -- disclosed less than half of the potential costs DOD expects will be required to procure the low-rate initial production (LRIP) Lot 4 aircraft... The government is responsible for all LRIP Lot 4 concurrency costs...The projected concurrency costs plus forecast cost overruns would total $534 million."
Again quoting Inside Defense, "Asked why Pentagon did not mention this figure to Congress last month, Pentagon spokeswoman Cheryl Irwin said, 'We don't have a budget quality estimate of concurrency costs for LRIP Lot 4. We have indicated to Congress there will be additional costs for concurrency.'" Kendall and Venlet in their previous testimony "acknowledged the F-35 program was established in 2001 with 'unfounded optimism about the time and cost required to concurrently develop and produce the new stealth fighter.""