Korea Aerospace Industries (KAI) will set up Seoul’s first aircraft maintenance, repair and overhaul (MRO) company in July this year.
In December, the government designated KAI as the operator of the Korea Aviation Engineering & Maintenance Service, Ltd. (KAEMS). KAEMS aims to provide MRO work on a local low-cost carrier between October and December after obtaining a certificate as an MRO company in the third quarter, a KAI spokeswoman said by phone, the company said in a statement Thursday.
KAI owns a 65 percent stake in KAEMS, with Korea Airports Corp. and six companies controlling 19.9 percent and the remaining 15.1 percent state in the new firm.
"Many Korean airplane companies, both passenger and military, used to go to the United States and Singapore for MRO work. It usually cost them about 1 trillion won (US$923 million) a year to receive MRO services outside the country," a spokeswoman for the country's sole aerospace company said.
"But KAI is now capable of maintaining, repairing and overhauling local planes as the country's sole aircraft manufacturer beat Japan in an auction in October to win the $48.8 million MRO project for 90 F16 fighter jets operated by the U.S. air force in the Asia-Pacific region."
KAI will be responsible for the MRO work on the fighter jets up till September 2022, she said.
Korea Aerospace Industries (KAI) is said to have made $150,000 payment to Michael Cohen, US President Donald Trumps personal lawyer in November 2017. The payments were made to Essential Consultants LLC, a company established by Cohen in Delaware, according to a memo released by Michael Avenatti on Twitter Thursday
Iraqi Air force has taken deliveries of at least six light attack fighters based on the Korea Aerospace Industries (KAI) T-50 supersonic trainer, Alert5 reports citing photos published on the air forces social media accounts
Korea Aerospace Industries (KAI) has begun delivery of its advanced T-50 trainer jet to Thailand's air force. KAI received two separate orders to build four T-50TH trainer jets worth US$110 million in 2015 and eight T-50TH jets valued at $260 million last year
Korea Aerospace Industries has chosen Harris Corporation to furnish carriage and release systems for the next-generation Korea Fighter-Experimental (KF-X) program. The KF-X jet is a program aimed at developing an advanced multirole fighter for the air force of the Republic of Korea, Harris Corp said in a statement Tuesday
A sailor was killed after suffering serious head injuries following an explosion on a South Korean naval frigate. The incident happened at around 12
Ansat Helicopter Certified To Fly At 3,500 metres By Rosaviatsiya
Tiruchi Assault Rifle Handed Over To Indian Border Security Force
US-Pakistan Military Relations Seen Thawing as Washington sends Fighter Jets for Joint...
Boeing Unmanned Passenger Aircraft Completes First Flight
US Blocks Sale of Sukhoi Superjet Aircraft to Iran
Gripen Prospects Brighten as Croatia Threatens Israeli Used F-16 Deal Cancellation
Chinese Aircraft Maker Issues RFP for Stealth Aircraft’s Target Detection Systems
South Korean Air Defence System Beat Russian Tunguska-M1, Pantsir in Indian Trials
The MiG-29, one of Russias most exported military jet has been upgraded in India that expands its capabilities from an...
Russian fifth generation fighter aircraft (FGFA) Su-57 will for the first time perform flights during the ARMY 2018 event near...
The American-made Patriot and Russian S-400 Triumf air defense systems are currently hogging international orders despite their price tags running...
The Russian ministry of defense on Thursday published a series of videos showcasing the production, deployment and installation and testing...
The market for fighter jets in countries which are expected to have open competitions is estimated at US$50 billion to...
The Indian MoD's plan to purchase 110 fighter jets may be its costliest fighter jet buy ever with the entire...