Boeing Supplies 103 Aircraft Worth $36.2B to Korean Air
Boeing has agreed to supply 103 aircraft to Korean Air for $36.2 billion at list prices, supporting South Korea's flag carrier in expanding its fleet long-term.
The order consists of 20 777-9s, 25 787-10s, 50 737-10s, and eight 777-8 Freighters, with only the 787s currently certified for commercial service. IBA estimates the aircraft order after discounts to be $12.6 billion.
Korean Air also secured an $8.6 billion deal for spare engines from GE Aerospace and CFM International, along with a 15-year engine maintenance agreement covering 28 aircraft, priced at $44.8 billion total.
According to Korean Air CEO Cho Won-tae, the newer aircraft will help expand services to more destinations in the US and Latin America, replacing about 80% of existing jets in the carrier's fleet.
The deal was first announced during South Korean President Lee Jae-myung's visit to Washington last year and is seen as a significant milestone for bilateral trade between the two countries.