Lockheed Martin chiefs at Asian Aerospace have expressed confidence that their company's share price will bounce back soon after "taking a hammering" last year.

"The stock will come back," declares Robert Young, Lockheed Martin's Asia regional president. "The problems we had with programmes last year were addressed successfully. We are now concentrating on financial issues, such as cash flow and debt reduction."

A package of corporate re-organisation and job cuts will save a couple of hundred million dollars, says Young. "We are also focussing more on our core customers.

Source: Flight Daily News