S.Korea's KAI sells fighter jets worth $1.1 billion to Iraq
Source: Reuters
South Korean defense contractor Korea Aerospace Industries Ltd (KAI) has signed a deal with Iraq to export 24 light fighter jets valued at $1.1 billion, the company said on Thursday.
The deal to supply FA-50 aircraft also includes training for Iraqi pilots and other support for the Iraqi Air Force for the next two decades, which could push the total value of the deal to $2 billion, the contractor said in a statement.
The FA-50 is a light attack variant of the T-50 Golden Eagle supersonic trainer that was co-developed by KAI and U.S. defense firm Lockheed Martin Corp.
The Iraqi version of the FA-50, labeled the T-50 IQ, can be armed with air-to-air and air-to-surface missiles, machine guns and precision-guided bombs along with other munitions, KAI said.
Read more: http://news.yahoo.com/korea-39-kai-sells-fighter-jets-worth-1-120243240--finance.html
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