Korea Aerospace Industries eyes final FA-50 deal with Philippines in H1

Korea Aerospace Industries Ltd. (KAI), South Korea's sole aircraft maker, expects to sign a US$450 million deal to export FA-50 light attackers to the Philippines in the first half of this year, the company head said Friday. KAI has teamed up with the state-run Defense Acquisition Program Administration to sell 12 FA-50 aircraft to the Philippines through a government-to-government program. While a final contract had been expected within last year after the Manila government signed a memorandum of understanding, the decision was delayed as Typhoon Haiyan swept the Southeast Asian nation in November.