Latest news with #KAI
Yahoo
a day ago
- Business
- Yahoo
Why Lockheed Martin Stock Zoomed Higher Today
The defense sector mainstay signed a new agreement with a business partner in Asia. It's hardly the first, as the two businesses have been collaborating for over 30 years. 10 stocks we like better than Lockheed Martin › News of a strengthened business tie-up with an important partner overseas gave some lift to Lockheed Martin (NYSE: LMT) stock on Tuesday. The defense company went on the offense, with its shares climbing to a nearly 3% gain on the day. That looked particularly good next to the S&P 500 index, which sank by more than 0.8% that trading session. Lockheed announced that it and Korea Aerospace Industries (KAI) have signed a memorandum of understanding (MOU) to expand their existing aircraft development partnership. The MOU covers the manufacturing of rotorcraft and the development of space systems and uncrewed aerial vehicles (UAVs), among other projects. The agreement marks the latest move in what's been a 30-plus-year collaboration between Lockheed and KAI. The two companies originally partnered on the licensed production of the F16 fighter aircraft. In its press release touting the news, Lockheed quoted its chief operating officer, Frank St. John, as saying that the new pact "reflects our commitment to advancing global security by partnering with U.S. allies to develop, manufacture and sustain 21st century deterrence solutions." The company did not provide any financial details about its arrangement with KAI. A typical MOU has less heft and power as a contract; however, this one is meaningful because it spells out how Lockheed and KAI will expand their already close collaboration. With global tensions rising, now is an ideal time for defense companies to strengthen alliances. That goes double for the Korea Aerospace Industries, which has been frozen in an edgy, North-South standoff for over seven decades. Before you buy stock in Lockheed Martin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Lockheed Martin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $660,821!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $886,880!* Now, it's worth noting Stock Advisor's total average return is 791% — a market-crushing outperformance compared to 174% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Lockheed Martin. The Motley Fool has a disclosure policy. Why Lockheed Martin Stock Zoomed Higher Today was originally published by The Motley Fool
Korea Herald
3 days ago
- Business
- Korea Herald
KAI , Lockheed Martin broaden defense partnership
Korean Aerospace Industries, the nation's sole aircraft maker, said Wednesday that it signed a memorandum of understanding with US-based defense company Lockheed Martin to expand their strategic partnership. The signing ceremony was held at the Paris Air Show 2025 in Le Bourget, France, on Tuesday. Both parties emphasized the importance of adapting to shifts in the global defense and aerospace industries and reaffirmed their commitment to sustainable collaboration. Following the memorandum, KAI intends to intensify joint marketing with Lockheed Martin to enter the US market through the US Navy's Undergraduate Jet Training System program. It also aims to explore new areas such as rotary-wing aircraft, crewed-uncrewed teaming systems, UAVs, AI-based autonomous technologies, space, training systems, and maintenance, repair, and overhaul. The two companies have collaborated for more than 30 years, beginning with licensed production of the F-16 in the 1990s. Their partnership led to the co-development of the T-50 supersonic trainer and subsequent upgrades for both the T-50 and FA-50 aircraft to meet evolving global requirements. 'This expanded cooperation with Lockheed Martin will further strengthen our engagement in trainer and fighter markets with the US and allied nations,' said KAI CEO Kang Goo-young. 'We expect this partnership to lead to sustainable capabilities in the aerospace industry.' Lockheed Martin COO Frank A. St. John described the agreement as a reflection of both companies' commitment to global security and technological collaboration to drive economic growth.
The Star
7 days ago
- Business
- The Star
Philippines acquires 12 FA-50 combat jets from South Korea
A Philippine Air Force FA-50 (left) and US Air Force F-16 fighter jet (right) fly in formation during the US-Philippines joint air force military exercise dubbed 'Cope Thunder' at Basa Air Base in Pampanga on April 11, 2024. - Photo: AFP file MANILA: The Department of National Defence (DND) announced on Saturday (June 14) the acquisition of 12 FA-50 Block 70 light combat aircraft from Korea Aerospace Industries, Ltd. (KAI). The DND and the South Korean manufacturer sealed a deal earlier this month, formalising the contract valued at more than US$700 million. The comprehensive package includes mission equipment, integrated logistics support, and a training and logistics information system. The Korea-made combat jet represents the latest evolution of the FA-50 platform, featuring advanced avionics, modern radar systems, and extended operational range. 'Its acquisition marks a significant enhancement to the country's air defence capabilities and aligns with the DND's Comprehensive Archipelagic Defence Concept,' the DND said. The department said this underscores the Philippine government's 'continued commitment to national defence' and further strengthens its bilateral defence cooperation with South Korea. The delivery of the aircraft will be carried out in phases over the next five years, with full completion targeted by 2030. The DND earlier acquired 12 FA-50 aircraft from KAI for PHP18.9 billion under the AFP Modernisation Programme. - Philippine Daily Inquirer/ANN
Yahoo
05-06-2025
- Business
- Yahoo
Philippines orders 12 more FA-50 combat jets from South Korea
MANILA, Philippines — The Philippines' defense department sealed the order for 12 FA-50 light combat aircraft in a $700 million package with Korea Aerospace Industries, the company said in a statement released Wednesday. The export contract includes 12 FA-50s set to arrive around 2030. The upgraded jets are capable of aerial refueling and will be installed with AESA radars. The deal also includes an undisclosed number of air-to-ground and air-to-air weapons. KAI had previously exported 12 FA-50s to the Air Force in a 2014 export order, which was fulfilled in 2017. One FA-50 aircraft crashed in early March during a counterinsurgency operation in Mindanao in the country's south. The military grounded the FA-50s immediately after the crash but lifted the order after an internal investigation found no mechanical mishap occurred during the operation. Manila has actively purchased frigates, corvettes, aircraft, and weapons from South Korean defense firms to modernize its armed forces. The Philippines was South Korea's second-largest global customer until 2021. KAI expects the orders to open more interest in the aircraft among governments in Europe, the Middle East and South America. The Philippine Air Force currently operates the FA-50 and A-29 Super Tucano turboprop light attack aircraft. The defense department has yet to decide on the country's multirole fighter jet program, which is estimated to be the most expensive acquisition under the final phase of the Horizons military modernization project.
The Star
05-06-2025
- Business
- The Star
Philippines signs deal for 12 fighter jets: South Korea manufacturer
Philippine and South Korean FA-50 fighter jets. - Photo: Korean Aerospace Industries MANILA: The Philippines has signed a contract for 12 more FA-50 fighter jets, its South Korean manufacturer said Wednesday (June 4), three months after one of the planes crashed during a mission against communist rebels. Korea Aerospace Industries (KAI) valued the deal with the Department of National Defense at US$700 million, with delivery of the jets to be completed by 2030. The Philippines, which has yet to confirm the pact, previously purchased a dozen of the light warplanes in 2014. In a statement, the South Korean firm said the fighter jets would feature enhanced capabilities including "aerial refueling for extended range, (Active Electronically Scanned Array) radar, and advanced air-to-air and air-to-ground weapons systems". One of the Philippines' original fleet of FA-50s went missing on March 4 while on a mission to provide air support for troops fighting guerrillas in a mountainous area of the southern island of Mindanao. Rescuers found the wreckage of the plane and the bodies of two crewmen a day later. After temporarily grounding the fleet, the Philippine Air Force ruled out any mechanical problems with the aircraft. Air Force spokeswoman Maria Consuelo Castillo told a press conference in April that a confluence of factors had contributed to the crash, including mountainous terrain and visibility issues. Castillo said in March that the purchase of additional FA-50s was under consideration by the defence department. - AFP
