Korea Aerospace Secures KRW101.4 Billion Philippines FA-50PH PBL Project

MT Newswires Live

02/06

Korea Aerospace Industries (KRX:047810) secured the Philippines FA-50PH performance-based logistics (PBL) project from the Philippine Department of National Defense, the company said in a Friday filing with the Korea Exchange.

The contract, valued at 101.4 billion won, is valid till Feb. 5, 2029.

Under the contract, Korea Aerospace will provide long-term maintenance, spare parts, repairs, and operational support for the Philippine Air Force's FA-50PH light combat aircraft.

Shares of Korea Aerospace Industries fell nearly 1% in recent trade.

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