LMT Lockheed Martin Corp

By Doug Cameron 

Lockheed Martin Corp. Chief Executive Marillyn Hewson is due to meet with Donald Trump in New York on Friday, according to a spokesman for his transition team.

The planned meeting marks the third time the two have conferred in the wake of the president-elect's fierce criticism in tweets and public appearances about the cost of the F-35 combat jet program led by Lockheed.

Ms. Hewson met with Mr. Trump on Dec. 21 in Florida, and the company said she also talked with him by phone two days later. She arrived at Trump Tower at 11:48 EST on Friday.

Mr. Trump has complained about the cost of the F-35 program, though Pentagon officials have said it is broadly on track since being restructured in 2011. The Pentagon is also continuing existing efforts with defense companies to lower its cost.

While Mr. Trump has suggested a combat jet made by Boeing Co. could be a partial substitute for the F-35, the notion has been broadly dismissed by defense officials.

Retired Marine Corps Gen. James Mattis, Mr. Trump's pick as defense secretary, on Thursday backed what he described as the unique capabilities of the F-35 and also noted some U.S. allies buying the plane have no alternative.

Lockheed declined comment, though Ms. Hewson has previously committed to working with the incoming administration to cut F-35 costs.

Mr. Trump's direct interventions in some high-profile military programs have rattled defense company executives and investors, partly deflating a post-election bounce in share prices on expectations he would boost spending.

--Mike Bender contributed to this article.

Write to Doug Cameron at doug.cameron@wsj.com

(END) Dow Jones Newswires

January 13, 2017 12:43 ET (17:43 GMT)

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