Korea Aerospace Industries (KAI) enjoyed a strong second quarter on the back of government orders for key aircraft programmes.
KAI’s revenue for the three months ended 30 June rose 20.5% to W892 billion ($647 million), as operating profits jumped eightfold to W74.3 billion, according to the company.
Net profits rose fivefold to W55.4 billion.
The company attributes its strong performance to large-scale domestic orders, namely the first production order for the developmental KF-21 fighter and an agreement to provide aerostructures for advanced air mobility company Eve.
In addition, the company generated revenue from work on the KUH-1 Surion programme, specifically the MUH-1 Marineon variant for the South Korean marines, and a minesweeping variant for the navy. KAI also continued work on the TA-50 trainer programme.
Overseas business also helped, namely FA-50 contracts for Malaysia and Poland.
KAI adds that the recovery of the global airline market helped boost its aerostructures business, lifting sales by 22.4% to W231 billion.
“Performance has significantly improved due to the stable performance of our main domestic businesses, increased volume in the civil aircraft business, and full-scale sales of finished aircraft exports to Poland [and others],” says KAI president Kang Gu-young.
“We will continue to invest in future businesses and do our best to drive KAI’s second growth by expanding into the global market.”
KAI ZEROS IN ON MANNED-UNMANNED TEAMING, UH-60 WORK WITH HANWHA
KAI has signed a memorandum of understanding with South Korea’s Drone Operations Command to conduct exchanges in the fields of advanced air mobility (AAM) and next generation unmanned air vehicles.
A key focus of the effort will be sharing information about AAM as well as Manned-Unmanned Teaming – or MUM-T.
Separately, at the recent Farnborough air show KAI entered a pact with Hanwha Systems to cooperate on future helicopter projects, such as performance improvements for the Surion and South Korea’s fleet of Sikorsky UH/HH-60 helicopters.
