The Philippines has signed a contract for 12 more FA-50 fighter jets, its South Korean manufacturer said Wednesday, three months after one of the planes crashed during a mission against communist rebels.

Korea Aerospace Industries (KAI) valued the deal with the Department of National Defense at $700 million, with delivery of the jets to be completed by 2030.

The Philippines, which has yet to confirm the pact, previously purchased a dozen of the light warplanes in 2014.

In a statement, the South Korean firm said the fighter jets would feature enhanced capabilities including "aerial refueling for extended range, (Active Electronically Scanned Array) radar, and advanced air-to-air and air-to-ground weapons systems".

One of the Philippines' original fleet of FA-50s went missing on March 4

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