PROVIDENCE — The head of Textron Inc., which along with Boeing Co. makes the troubled military aircraft known as the Osprey, has expressed confidence that the $40 billion program will continue, according to reports.
“We feel secure in our confidence about the V-22 and also in the continuance of the program,” Textron chief executive Lewis Campbell said. He added that in a “worst-case scenario for 2001” — a further delay in the aircraft’s delivery — would affect Textron’s full-year earnings per share by as much as $0.02.
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Twenty-two Marines died in two Osprey crashes last year, and the U.S. Marines subsequently delayed its December order of the aircraft. The Marine Corps is investigating the program, and relieved the head of the project of his duties following a media report that said maintenance records for the aircraft had been altered.
Campbell told analysts that he expected first quarter earnings per share of $1.00, a figure below analysts’ expectations of $1.08.
