It's Official: Boeing Wins South Korean Attack Helo Contract

Boeing (NYSE: BA  ) appears to have finally received the official contract formalizing its long-anticipated sale of 36 AH-64E Apache attack helicopters to the Republic of Korea on Friday.

Apache helicopters in flight. Source: Boeing.

In its daily rundown of contracts awarded to defense contractors, the Pentagon announced Friday that it has awarded Boeing a firm-fixed price, option-eligible, multi-year contract worth up to $904.4 million for the supply of 36 Apaches to South Korea. This sale includes the provision of logistical support, spare parts, and also one Apache "Longbow" crew trainer.

It does not, however, include the full amount of the $1.6 billion that this contract was originally reported to be worth, back when Boeing beat out Textron (NYSE: TXT  ) and Turkish Aerospace Industries to win it in April.

Boeing did not immediately respond to requests to clarify the discrepancy on Friday.

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  • Report this Comment On August 24, 2013, at 7:26 AM, SeniorMoment wrote:

    Supporting Boeing seems to be a growing trend in Korean Defence-given that they seem to want a fourth generation Boeing F15 over the much better Eurofighter and F-35.

    To give some idea Boeing had sold 8 F-15 all year and then get an order for 60. Is this one of those defence sales that comes back and bites the supplier in the bum.

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