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’s results release.
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 the minesweeping variant for the navy. KAI also continued work on the TA-50 trainer programme.
Overseas contracts 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 rise 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 conducted exchanges in the fields of advanced air mobility 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.
