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Friday, October 24, 2014

South Korea may cancel F-16 upgrade contract with BAE

KF-16 Fighting FalconThe South Korean Government is likely to cancel a contract with BAE Systems for modernisation of the national air force's KF-16C/D Block 52 fighter aircraft fleet.

In December 2013, BAE received a foreign military sales contract from the US to upgrade the Republic of Korea Air Force's ageing fleet of 134 KF-16 fighters in two phases at a cost of KRW1.75tn ($1.7bn).

Two US-based sources were quoted by Reuters as saying that the deal ran into rough weather after the US Air Force (USAF) added on significant risk 'reserves' to proposed costs.

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