S.Korea's KAI falls as much as 26 pct after losing U.S. Air Force bid

LIG Defense & Aerospace

28/09/2018 01:36

** Shares of Korea Aerospace Industries (KAI)  047810.KS 
plunge as much as 26 pct after it lost its bid for a U.S. Air
Force training jet 
    ** Boeing Co  BA.N , teamed up with Sweden's Saab AB
 SAABb.ST , wins the bid worth up to $9.2 billion, beating the
offer by KAI and Lockheed Martin  LMT.N , according to an
exclusive Reuters report  urn:newsml:reuters.com:*:nL2N1WD1NV
    ** KAI says in a statement it lost the contract due to
considerable price gap with Boeing
    ** Shares of Hanwha Aerospace  012450.KS  and LIG Nex1
 079550.KS  fall more than 11 pct and 8 pct, respectively
    ** The broader KOSPI market  .KS11  was trading down 0.3 pct
at 1220 GMT

 ((hayoung.choi.thomsonreuters.com@reuters.net))