 |
| A design model of the C-103 twin engine KFX (File Photo) |
SEOUL, South Korea — Korean Air and European aerospace giant Airbus have signed an agreement to jointly bid for an $8 billion jet fighter project, an airline spokesman said Sunday, pitting them against a team comprised of Lockheed Martin and Korea Aerospace Industries.
The project is designed to develop and produce 120 fighter jets of a new "indigenous" type to replace the country's aging fleet of F-4s and F-5s.
"We've signed a memorandum of understanding with Airbus," a Korean Air spokesman told AFP.
One of the conditions of the bid is that local enterprises tie up with foreign companies to secure technological assistance, according to Seoul's Yonhap news agency.
The pair will compete with Korea Aerospace Industries, which has teamed up with America's Lockheed Martin.
South Korea's Defence Acquisition Program Administration plans to announce the final winner in July.
Read the full story at DefenseNews