SYDNEY (Reuters) -New Zealand said on Thursday it would spend NZ$2.7 billion ($1.6 billion) to buy five MH-60R Seahawk helicopters and two Airbus A321XLR aircraft, the first major investment following a decision to replace the country’s aging defence fleet.

NZ$2 billion will be used to buy the maritime helicopters, manufactured by Lockheed Martin’s Sikorsky unit, and NZ$700 million for the A321XLRs, Defence Minister Judith Collins and Foreign Minister Winston Peters said in a joint statement.

Both investments are part of the planned commitments outlined in April in the government’s Defence Capability Plan.

New Zealand in April pledged to boost its defence spending by NZ$9 billion over the next four years, and aim to nearly double spending to 2% as a share of GDP in the next eight years

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