KAI Wins $1B Iraq T-50 Fighter Aircraft Sale

KAI_T-50_Golden_Eagle_RyabtsevKorean Aerospace Industries has received a $1.1 billion order from the Iraqi government for 24 T-50 multirole aircraft, the Wall Street Journal reported Thursday.

Jeyup Kwaak writes KAI will build Iraq a fighter variant of the Golden Eagle aircraft under the contract, which represents South Korea’s largest arms-export sale to date.

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KAI’s contract includes an option for pilot training and other support services to Iraqi air force over a 20-year period and would increase the contract’s value to $2 billion, the newspaper reports.

The article notes that KAI produces T-50 fighter and trainer jets in partnership with Lockheed Martin (NYSE: LMT).

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