KAI wins W505bn contract extension for 737

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Korea Aerospace Industries (KAI) has signed a won (W) 505 billion ($450 million) contract extension with Boeing to produce horizontal stabilisers and vertical fins for 737 aircraft.

The deal covers the years 2015 up to 2022, extending an existing 2004-2014 contract, says a KAI spokesman.

KAI is a key contributor to a number of Boeing commercial programmes, including the 767, 787, and 777.