Published April 12, 2017 8:12am EDT | Updated April 12, 2017 10:06am EDT

U.S. Air Force Authorizes Increasing Service Life Of F-16 Aircraft

The U.S. Air Force has authorized increasing the service life of Lockheed Martin's F-16 aircraft to 12,000 flight hours compared to the 8,000 hours it previously flew, the company announced Wednesday. With these modifications the aircraft have an operational life to 2048 or later. Shares of Lockheed Martin have gained 1% month-to-date, while the S&P 500 has lost 0.4%.