Korean Air Closes Record-Breaking Deal for 103 Boeing Aircraft
Korean Air has finalized a massive $44.8 billion deal to acquire 103 next-generation Boeing aircraft, marking one of the largest investments in the airline's history. The agreement brings to a close the U.S. purchase plan announced last August in Washington, D.C., with the total investment including engine purchases and maintenance services reaching $44.8 billion.
The contract covers 103 aircraft, comprising 20 777-9s, 25 787-10s, 50 737-10s, and eight 777-8F freighters. The order will give Korean Air a next-generation fleet covering short-haul, medium- and long-haul passenger routes as well as cargo operations.
The deal also includes investment in engines, with Korean Air agreeing to acquire 21 spare engines from GE Aerospace and CFM International, and signing a 15-year engine maintenance services contract with GE Aerospace covering 28 aircraft. This will support operational stability and help the airline respond proactively to persistent global aircraft supply delays since the COVID-19 pandemic.
Cho Won-tae, chairman of Hanjin Group, described the deal as 'a milestone of trust that goes beyond a simple corporate transaction to further strengthen the solid economic and technological alliance between South Korea and the United States.'