Japan Air Investing in Lockheed Unit: Japan...

Japan Air Investing in Lockheed Unit: Japan Airlines will purchase 14% of a new Lockheed Corp. subsidiary created to maintain and modify the aging fleet of 747 aircraft, Lockheed said. The subsidiary, Lockheed Commercial Aircraft Center Inc., eventually will occupy four aircraft bays at Norton Air Force Base, scheduled to close down in 1994, said John Dailey, a spokesman for Lockheed Aircraft Service Co. Initially, JAL will purchase a $3.3-million equity share in the $40-million subsidiary which will occupy two of four bays in a base hangar. When the San Bernardino County base closes, JAL will increase its investment to $6 million and Lockheed will expand into the other two bays, he said. The arrangement will help meet a critical worldwide shortage in aircraft maintenance facilities, a spokesman for LCAC said.