Korean Air Lands Massive US$44.8 Billion Deal with Boeing and GE Aerospace
Korean Air has finalized a massive deal worth US$44.8 billion to acquire next-generation aircraft and engines from Boeing and GE Aerospace. The agreement was signed on September 15, 2026, at the Conrad Seoul hotel in South Korea. The deal covers 103 Boeing jets, including 20 Boeing 777-9s, 25 Boeing 787-10s, 50 Boeing 737-10s, and eight Boeing 777-8F freighters.
The total cost of the aircraft order is KRW 54.2 trillion (US$36.2 billion), while engine agreements with GE Aerospace and CFM International amount to approximately KRW 12.9 trillion (US$8.6 billion). This includes a 15-year engine maintenance contract for 28 aircraft.
Korean Air's Chairman and CEO, Walter Cho, described the deal as 'much more than a business agreement.' He emphasized that it marks a testament to the trust and unbreakable alliance between South Korea and the United States. The investment aims to secure both fleet reliability and long-term relationships with engine partners.
The procurement supports Korean Air's capacity needs following its integration of Asiana Airlines, providing a predictable long-term fleet introduction schedule. It is also expected to improve overall fuel efficiency and support the airline's carbon reduction targets.