Korean Air Lands $44.8 Billion Deal with Boeing and GE Aerospace

Korean Air Lines Co., South Korea's flag carrier, has finalized its $44.8 billion investment plan in the US by signing contracts with Boeing Co. and GE Aerospace for new aircraft and engines.

The airline signed a $36.2 billion contract with Boeing for 103 next-generation, fuel-efficient jets, which include 20 777-9 and 25 787-10 wide-body jets for long-haul routes, 50 737-10 narrow-body jets for short- and medium-haul routes, and eight 777-8 freighters.

Korean Air also signed an $8.6 billion deal with GE Aerospace and CFM International for spare engines and engine maintenance services, securing 21 spare engines.