AEROSPACE

Loral Holds On to FAA Contract: The agency agreed to changes that will let Loral Corp. keep the contract to develop and install new computer workstations for the nation’s air traffic controllers. The Federal Aviation Administration said the amended contract, valued at about $955 million, will improve safety, cuts costs and flight delays, and equip the nation’s air traffic control system to handle a vast expansion in air travel expected over the next decade or so. The FAA had wanted to cut cost overruns and delays plaguing the program, but it didn’t want to banish Loral entirely and jeopardize the $1.5 billion the government has already spent on the program. Last September, the FAA said it would retain Loral only if the company agreed to fix the contract’s price and schedule. Now, after months of haggling, the New York City-based electronics maker has passed the test.