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Fri, Aug 04, 2006

Boeing All Alone In Bid For Huge South Korean Spy Plane Deal

IAI Dropped From Contract Bid

Israeli Aircraft Industries is out of the running in its bid to build South Korea's next aerial surveillance platform. That leaves Boeing all alone in the race for a contract worth more than $2 billion.

That doesn't mean Boeing has actually won the contract, however... at least, not yet. The Chicago-based planemaker will now be asked by the government in Seoul to submit a bid. It seems Boeing's E-737 has all the bells and whistles the South Koreans want... so now it's time to talk dollars and cents.

If Boeing gets the contract, it'll build four radar reconnaisance planes for South Korea... to be delivered by 2012.

As for IAI... it's back to the drawing board. South Korean defense officials say its Elta Systems Group G-550 didn't meet the country's needs.

FMI: www.boeing.com

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