BAE wins South Korea jet deal

BAE Systems said yesterday its US unit had won a contract to upgrade South Korea’s fleet of more than 130 F16 fighter jets. BAE said the exact value of the project was still being negotiated but that it is expected to be worth in excess of $1bn, the lion’s share of which will go to Europe's largest defence contractor. BAE will install new computers and operating systems in the jets along with other work.