South Korean firm wins US$1.2 billion order from Europe planemaker Airbus


SEOUL — South Korea’s Korea Aerospace Industries (KAI) said Tuesday it has won a US$1.2 billion deal to produce wing parts for European aviation giant Airbus. Under the agreement signed in France, KAI said in a statement it will exclusively produce wing bottom panels for the A320 passenger aircraft from 2014 to 2025.

KAI will supply the components for 500 A320s to be built each year, the company said, adding the deal may later be extended to 2030 at which point it will become worth more than US$1.7 billion. KAI, based in the southwestern city of Sacheon, has previously won orders to produce wing parts for the European firm’s A350 and Boeing’s B787 as well as for the A320.