SEOUL– Korea Aerospace Industries Co. (KAI) said Wednesday it has received a 180 billion-won (US$152 million) deal to supply parts and maintenance services to the T-50 trainer jets operated by the Korean military.
Under the deal signed with the Defense Acquisition Program Administration, the country’s sole aircraft manufacturer will provide parts to the T-50 advanced trainer jets, the FA-50 light attack aircraft and the TA-50 lead-in fighter aircraft until July 2025, the company said in a statement.
“The company will mainly supply parts for the T-50 aircraft if the military makes a request for them, together with the maintenance services for the aircraft,” a company spokesman said over the phone.
KAI aims to achieve sales of 1 trillion won in the aircraft maintenance, repair and overhaul business by 2030, up from the current 200 billion-won level, the statement said.
KAI has set a goal of 5 trillion won in sales in 2025 helped by growing orders for parts from Airbus and Boeing, the world’s two biggest aircraft companies, that are moving back toward prepandemic levels, as well as possible exports of the FA-50 trainer jet and the Surion transport utility helicopter.
In the January-September period, sales fell 14 percent to 1.77 trillion won from 2.06 trillion won a year earlier.
Source: Yonhap News Agency