Taiwan Quick Take: New IDF in October

The government-owned Aerospace Industrial Development Corp is scheduled to launch an upgraded version of the Indigenous Defense Fighter (IDF) on Oct. 10, company chairman Feng Shih-kuan (馮世寬) announced yesterday. The planned launch is not the only good news from the company, which suffered losses last year, Feng said at a celebration marking the firm's 10th anniversary as a state-run corporation. The authorities are also working on a proposal to resume the production of AT-3 advanced jet trainers, he added. The AT-3 trainer is expected to attract foreign buyers and bring major profits to the company, Feng said. The company traces its roots to the founding of the Aero Industry Development Center in 1969 under the supervision of the Air Force. It was transferred in 1983 to the military-run Chung Shan Institute of Science and Technology and turned into a state-owned company in 1996.