Korean Air Finalizes $44.8 Billion Agreement for 103 Boeing Aircraft
Korean Air has finalized agreements worth approximately $44.8 billion to purchase 103 Boeing aircraft and engines from GE Aerospace and CFM International. The agreements include $36.2 billion for the aircraft, which consist of 20 777-9s, 25 787-10s, 50 737-10s, and eight 777-8F freighters.
Korean Air also finalized agreements worth about $8.6 billion with GE Aerospace and CFM International for spare engines and engine maintenance services. This investment will secure a stable, long-term fleet introduction schedule and support capacity growth following the company's planned integration with Asiana Airlines in December.
The agreements were signed during a ceremony attended by executives and government officials from South Korea and the United States. Walter Cho, CEO of Korean Air and chairman of Hanjin Group, stated that 'this is much more than a business deal' and emphasized the trust and alliance between the two countries.