Korea Aerospace Industries (KAI) Ltd., South Korea’s sole military aircraft manufacturer, signed a $240 million contract with the Indonesian Ministry of Defense to provide additional six T-50i trainer jets.

The contract also includes operational supports on the T-50i jets from Dec. 16, 2021 to Oct. 30, 2024, KAI disclosed Tuesday. The contract period will be confirmed once the company receives advanced payment.

On Tuesday, KAI shares fell 1.02 percent to close at 33,850 won ($29.42).

KAI previously supplied the Indonesian air force with 16 T-50i jets in May 2011. It also provided upgrades for the jets with radars and machine guns in November 2018.

The T-50 is Korea`s first indigenous supersonic aircraft developed by KAI for the nation’s air force. It is designed for providing pilot training as well as engaging in light combat missions.

By Cho Jeehyun

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]