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Airbus helicopters to sign South Korean deal March 16 - sources

Published 13/03/2015, 11:55
© Reuters. A multi-role military helicopter EC 725 by Airbus Helicopters is pictured at an international military fair in Kielce
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PARIS (Reuters) - Airbus Helicopters (PA:AIR) is slated to sign on Monday a contract worth around $3 billion for the development and production of military and civil helicopters in South Korea, sources close to the matter said on Friday.

The Airbus Group division was sole in the running in talks with Korea Aerospace Industries (KAI), the main South Korean procurement consortium, after other contenders Bell Helicopter, a unit of Textron (N:TXT) and AgustaWestland of the Finmeccanica (MI:SIFI) group were ditched, French media had said.

"The signing will take place on Monday at 1100 am in Seoul", one of the sources said.

© Reuters. A multi-role military helicopter EC 725 by Airbus Helicopters is pictured at an international military fair in Kielce

Airbus Helicopters declined to comment.

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