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Philippines signs $667 million military aircraft contracts

: Apr 1, 2014 - : 8:09 am

 fa-50

The Philippines on Friday, March 28, signed agreements to buy $528 million worth of military aircraft from South Korea and Canada amid ongoing territorial disputes with China.

“After more than four decades of stagnancy in its dream of improving its capability, our air force has found a promise of new life with the realisation of our (military) modernisation programme,” Philippine Defence Secretary Voltaire Gazmin said.

Korea Aerospace Industries will deliver 12 FA-50 jets worth $421 million in just over three years under a contract agreed by Philippine defence officials and South Korean government representatives.

The South-east Asian country also completed a $107 million contract with Canadian Commercial Corp. and Canada’s Bell Helicopters to build eight helicopters for the military.

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