Department of National Defense undersecretary for finance, modernization, installation and munitions Fernando Manalo said Letter of Credit (LOC) for 12 F/A-50 “Fighting Eagle” of Korean Aerospace Industries (KAI) will be signed within this month.
These PHP18 billion worth fighter trainer jets are expected to be completely delivered on 2017. First two jets are to be delivered within 18 months after the opening of LOC, another two 12 months after the first delivery, and the remaining eight on staggered basis within 8 months after second delivery.
According Philippine News Agency, “the F/A-50 will act as the country’s interim fighter until the Philippines get enough experience of operating fast jet assets and money to fund the acquisition of more capable fighter aircraft.”
On other major acquisitions, DND moved the bid submission and opening for the 2 anti-submarine helicopters and 2 long-range patrol aircraft on June 24 and July 9 respectively.