Korea Aerospace Industries (KRX:047810) won the Philippine FA-50PH performance-based logistics (PBL) project from the Philippines' Department of National Defense, the company said in a Tuesday filing with the Korea Exchange.
The contract, valued at 101.4 billion won, is valid until Feb. 5, 2029.
Under the agreement, the aerospace company will provide long-term maintenance, spare parts, repairs, and operational support for the FA-50PH light combat aircraft, according to the filing.
Shares of Korea Aerospace Industries fell nearly 1% at market close.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments