Airbus helicopters to sign $3bn deal in South Korea

Airbus Helicopters was poised to seal a deal on Monday in South Korea to sell some 300 civil and military helicopters worth around three billion dollars, sources close to the agreement told AFP Friday.
"The contract should be signed on Monday in Seoul. It's for the development and manufacturing of about 300 helicopters, about 100 of which are for civilian use," said the source, who did not wish to be named.
"The helicopters will be built in conjunction with a local partner," the source added, confirming media reports of a tie-up with Korea Aerospace Industries (KAI).
Airbus Helicopters declined to comment.
The firm was in competition with Italian-British group AgustaWestland for the contract to help replace South Korea's ageing fleet of military helicopters.
If confirmed, the contract would give Airbus Helicopters an important foothold in a strategically vital market.
In 2005, Airbus Helicopters won a similar contract for military choppers in South Korea, also in partnership with KAI.