Boeing Signs Agreement with Korea Aerospace Industries for E-X Airborne Early Warning and Control Program

LE BOURGET, FRANCE,-- The Boeing Company [NYSE: BA] and Korea Aerospace Industries Ltd. (KAI) have signed a Memorandum of Agreement for the Republic of Korea’s E-X 737 airborne early warning and control (AEW&C) program.

Under the agreement, KAI will modify three AEW&C aircraft, install the mission system equipment, and test and deliver the aircraft at its facility in Sacheon, Korea. Boeing will modify a fourth AEW&C aircraft at one of its manufacturing facilities.

Boeing signed a $1.59 billion contract with South Korea in 2006 to provide four AEW&C systems along with ground support segments for flight and mission crew training, mission support, and aircraft and system modification support.

Boeing will deliver Korea’s first 737 AEW&C aircraft in 2011 and the remaining three aircraft in 2012.

In addition to the Republic of Korea, Boeing has sold 10 AEW&C aircraft to date: six for Australia’s Project Wedgetail and four for Turkey’s Peace Eagle program.