KAI Signs Follow-up Support Contract for T-50IQ with Iraq... "Worth $360 Million"

[Asia Economy Reporter Dongwoo Lee] Korea Aerospace Industries (KAI) announced on the 8th that it has signed a follow-up operation support contract for the T-50IQ with the Iraqi Ministry of Defense. This is the first time KAI has signed a follow-up operation support business contract with an overseas customer.

Under this contract, KAI will provide maintenance, logistics support, and logistics management programs for the T-50IQ operated by the Iraqi Air Force, as well as support education and training for new pilots and maintenance personnel. The contract period is three years from the effective date, with a value of 360 million USD.

KAI signed an export contract for 24 T-50IQ aircraft with Iraq in December 2013 and has completed the delivery of the aircraft. KAI stated, "We expect this to be an opportunity to expand our business from mainly aircraft exports to high value-added service sectors."

The follow-up operation market is a unique domain for countries or companies that have succeeded in aircraft platform development, enabling long-term and stable revenue generation. In response to overseas customers' demands, KAI is currently upgrading the FA-50’s range and armament capabilities and continues efforts to improve aircraft performance by introducing next-generation basic trainers and future new-concept aircraft such as manned-unmanned combined systems.

Lee Bong-geun, Executive Director of KAI’s Export Innovation Center, said, “KAI’s follow-up support capabilities are highly evaluated by the Republic of Korea Air Force and overseas export countries,” adding, “We will develop this into a core element of aircraft export marketing by enhancing customer satisfaction through perfect service and improved operational rates.”

This content was produced with the assistance of AI translation services.