Korean Air Completes $44.8 Billion Aircraft Purchase Plan

Korean Air has finalized its $44.8 billion purchase plan announced last year to acquire next-generation aircraft and engines from U.S. companies, including Boeing.

The airline signed final agreements covering $36.2 billion worth of Boeing aircraft and $8.6 billion in spare engines and engine maintenance services from GE Aerospace and CFM International.

Korean Air will acquire 103 aircraft as part of the deal: 20 Boeing 777-9s, 25 Boeing 787-10s, 50 Boeing 737-10s, and eight Boeing 777-8F freighters. The airline also purchased 21 spare engines from GE Aerospace and CFM.

Korean Air's Chairman Cho Won-tae said the agreement represents a milestone of trust that strengthens the economic and technological alliance between Korea and the United States.