Air Force Plans Satellite Launch Competition

The U.S. Air Force said it hoped to kick off a new competition next month between Lockheed Martin Corp. and Boeing Co. to launch as many as two dozen government satellites into space.

Acting Air Force Secretary Peter Teets said he expected the Air Force to finalize the terms of the competition -- in which both companies would be guaranteed some orders -- in the first quarter of fiscal 2006, which begins Oct. 1.

He said a contract award was planned sometime in calendar 2006.

Boeing shares rose 38 cents to $57.22, while Lockheed fell 5 cents to $59.90, both on the New York Stock Exchange.