Korean Air Signs $44.8 Billion Deal for 103 Boeing Jets Ahead of Asiana Merger
Korean Air has signed massive deals worth $44.8 billion to buy 103 Boeing jets and 21 spare aircraft engines from GE Aerospace and CFM International.
The contracts, valued at around 60 trillion won, are part of the airline's plan to modernize its fleet ahead of its merger with Asiana Airlines in December.
Korean Air will take delivery of 20 Boeing 777-9 jets, 25 787-10s, 50 737-10s, and eight 777-8F freighters under the deal. The airline currently operates a fleet of 166 aircraft and expects to grow to around 230 after the merger.
The combined Korean Air is projected to increase passenger capacity by over 55% and cargo capacity by more than 10% from current levels, securing global competitiveness at around 15th in passenger traffic, fifth in cargo, and 10th overall worldwide.