6th Nov 2014 06:52
LONDON (Alliance News) - The US government has cancelled early work by the US arm of BAE Systems PLC on upgrades for 134 F-16 fighter jets on behalf of South Korea, owing to a rise in the projected USD1.7 billion cost of the deal, Reuters reported on Thursday.
The move, which was announced by the Pentagon's Defence Security Cooperation Agency, will allow South Korea to pursue a similar upgrade deal with US defence contractor Lockheed Martin Corp, the original maker of the planes, Reuters said.
http://uk.reuters.com/article/2014/11/06/uk-baesystems-southkorea-idUKKBN0IP2WZ20141106
By Sam Unsted; [email protected]; @SamUAtAlliance
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