KAI extends 787 wing parts contract

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Korea Aerospace Industries has secured a Korean won (W) 730 billion contract ($680 million) contract from Boeing for continued work on wing parts for the 787.

The deal extends a contract originally signed in 2005, and will see the South Korean deliver 1,000 wing structures between now and 2021, says a KAI spokeswoman.

The company hopes to land W7.7 trillion of orders this year, with nearly half this related to the company’s aerostructure’s business. The balance is expected to come from aircraft orders for the company’s military helicopters and aircraft.