Boeing Joins Lockheed Air Traffic Consortium

Boeing Co. has joined a consortium led by Lockheed Martin Corp. to improve its chances of participating in a $1-billion government effort to modernize the nation’s air traffic control system.

Taking a small role in a rival-run group illustrates the challenge Boeing has encountered in getting its fledgling air traffic management unit into the black in the face of competition from Lockheed and Raytheon Co.

Boeing shares were up 92 cents to $48.25, and Lockheed shares fell 57 cents to $57.58, both on the NYSE.