South Korean defense contractor Korea Aerospace Industries Ltd (KAI) has signed a deal with Iraq to export 24 light fighter jets valued at $1.1 billion, the company said on Thursday.

The deal to supply FA-50 aircraft also includes training for Iraqi pilots and other support for the Iraqi Air Force for the next two decades, which could push the total value of the deal to $2 billion, the contractor said in a statement.

The FA-50 is a light attack variant of the T-50 Golden Eagle supersonic trainer that was co-developed by KAI and U.S. defense firm Lockheed Martin Corp. […]