KAI named preferred bidder for parts deal with Airbus

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KAI named preferred bidder for parts deal with Airbus

Korea Aerospace Industries Ltd. (KAI) said yesterday that it has been named the preferred bidder to exclusively supply wing parts to Europe’s Airbus SAS.

The deal calls for the building of wing bottom panels (WBP) for Airbus’ popular A320 passenger jets for the duration of the aircraft’s production, which may extend to around 2025, KAI said.

If a formal contract is signed in the first quarter of this year, it will mark the single largest civilian aircraft parts deal won by a local company, it added.

The company based in Sacheon, South Gyeongsang, 430 kilometers (267 miles) southeast of Seoul, declined to disclose the value of the deal, but industry sources put it at around 100 billion won per year.

There are currently 4,000 twin-engine A320 series planes in operation with 200 airlines around the world and outstanding orders exceeding 7,000 planes. Yonhap

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