Peraton Faced 'High' Financial Risk Assessment Before $1.5 Billion FAA Contract

07:44 PM EDT, 09/23/2026 (MT Newswires) -- Peraton was flagged internally as having a "high risk" of financial instability before winning a $1.5 billion contract to oversee the modernization of the US air traffic control system, Bloomberg reported Wednesday. An FAA presentation to Transportation Secretary Sean Duffy in October 2025 compared Peraton with a competing bid from Parsons and IBM, the report said. Peraton was awarded the contract in December. The FAA said the initial assessment was only the beginning of its evaluation, and that discussions with both companies continued before the final selection. Peraton said all 13 project workstreams are on schedule or ahead of schedule, Bloomberg said.