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Biz News Korea(Eng)
KAI wins massive wing component orders from Boeing
- Collected
- 2017.07.13
- Distributed
- 2017.07.17
- Source
- Go Direct
T-50
The largest defense company and sole aircraft maker in South Korea said Tuesday it sealed a 641.1 billion won ($557 million) exclusive contract to supply wing ribs for Boeing`s new series of wide-body jet airliners, the B777x, until the end of 2030.
The deal represents more than 20 percent of KAI`s gross sales last year.
The company also said in a separate regulatory filing that it extended a contract deadline to continue the supply of pivot bulkheads for Boeing’s B787 Dreamliners until 2028. The new contract will bring additional 79 billion won to KAI.
Meanwhile, KAI’s planned exports of eight T-50 trainer jets to Thailand are on track as the Thai Air Force`s 266 billion won procurement of the aircraft proposed by Deputy Prime Minister and Defense Minister Prawit Wongsuwon was tabled to the cabinet for budget approval on Tuesday.
Bangkok Post reported the budget will be covered by the Thai Air Force for three years and a final purchasing agreement is due to be signed with KAI on July 29.
Thailand selected South Korea’s T-50 models to replace its ageing Czech-made L-39 aircraft. A total of 16 T-50 trainer jets are planned for deployment.
In Seoul trading on Wednesday, KAI stocks were trading up 1.16 percent, or 700 won, at 60,800 won as of 02:03 p.m. from the previous day.
By Kim Jung-hwan
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]