Korean Air has announced its intention to purchase 103 Boeing aircraft with a value of KRW 50 trillion (~USD $36.2 billion), supporting the airline's growth following the integration with South Korea's second biggest airline Asiana Airlines.
Korean Air has announced its intention to purchase 103 Boeing aircraft with a value of KRW 50 trillion (~USD $36.2 billion), supporting the airline's growth following the integration with South Korea's second biggest airline Asiana Airlines.
According to Boeing and Korean Air, the purchase order will comprise of 20 Boeing 777-9s, 25 787-10s, 50 737-10s (737 MAX 10), and 8 777-8F freighters. The aircraft are scheduled for delivery in phases through the end of 2030.
The total value of the agreements for the new aircraft and engines – signed during a ceremony in Washington DC – is around KRW 70 trillion (~USD $50 billion). Along with the KRW 50 trillion aircraft purchase deal, the new engine deal with GE Aerospace and CFM International for 19 spare engines is worth KRW 1 trillion (~USD $690 million). A separate 20-year engine maintenance deal with GE Aerospace is worth KRW 18.2 trillion (~USD $20 billion).
"This agreement with our long-standing partners, Boeing and GE, marks a pivotal moment for Korean Air," said Walter Cho, chairman and CEO of Korean Air. "Acquiring these next-generation aircraft is the core of our fleet modernization strategy, delivering significant gains in fuel efficiency and enhancing the passenger experience across our global network. This investment is also a critical enabler for our future as a merged airline with Asiana, to ensure that our combined carrier is one of the most competitive airlines in the industry."
"We are honored to strengthen our partnership with Korean Air through this landmark agreement, which reflects the value and capabilities of Boeing's market-leading airplane family," said Stephanie Pope, president and CEO of Boeing Commercial Airplanes. "As Korean Air transitions to a larger unified carrier, we are committed to supporting the airline's growth with one of the world's most efficient fleets."
Boeing states that the order will be posted on its Orders & Deliveries website once it is completed. The South Korea-based carrier's orders and commitments for Boeing aircraft in 2025 surpasses 150 aircraft, following an incremental order in March for 20 777-9s and 20 787-10s.
The new orders will add to Korean Air's fleet which currently operates 108 aircraft from Boeing including 737s, 747s, 777s, and 787s. With 72 aircraft on order with Boeing, once finalized Korean Air's order book will grow to 175 aircraft.
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