Lockheed Martin Corp. (LMT) Wednesday announced that Straightline Aviation or SLA signed a letter of intent to purchase up to 12 Lockheed Martin Hybrid Airships with a potential value of approximately $480 million.
SLA is working with Hybrid Enterprises, the exclusive reseller of Lockheed Martin's Hybrid Airships, to finalize the purchase agreement. It is the first customer's Letter of Intent to purchase Lockheed Martin airships.
The company noted that UK-based SLA has deep-rooted experience in airship operations and established the company specifically to act as an owner-operator of Hybrid Airships.
Rob Binns, chief executive officer of Hybrid Enterprises, said, "Lockheed Martin's Hybrid Airship represents a revolution in remote cargo delivery. Having an experienced team such as SLA recognize the Hybrid Airship's potential by signing the LOI solidifies the demand for this new mode of transportation."