Korean Air is advancing its partnership with Boeing and GE Aerospace to secure timely delivery positions for next-generation aircraft amid global supply chain challenges. On March 21, Walter Cho, Chairman and CEO of Korean Air and Hanjin Group, Kelly Ortberg, President & CEO of Boeing, and Russell Stokes, President & CEO of Commercial Engines and Services – GE Aerospace, met in Washington D.C. to discuss ways to enhance cooperation.
Korean Air is expediting its fleet renewal program to support expansion following the Asiana Airlines integration. The airline is working to secure aircraft delivery positions to maintain its fleet plan with current industry supply conditions.
The airline will further develop the Memorandum of Understanding signed with Boeing at the 2024 Farnborough International Airshow. The agreement encompasses firm orders for 20 Boeing 777-9 and 20 Boeing 787-10 widebody aircraft for delivery through 2033, with options for 10 additional aircraft under similar terms.
Korean Air has also agreed to finalise contracts for eight spare engines from GE Aerospace, with two additional engine options, and a comprehensive maintenance agreement for GE9X engines to power the Boeing 777-9 fleet. The agreements amount to $32.7 billion (KRW 47.97 trillion) – $24.9 billion for aircraft and $7.8 billion for engines and maintenance.
“Boeing and GE Aerospace provide the advanced technology that powers our commitment to excellence,” said Walter Cho, Chairman and CEO of Korean Air and Hanjin Group. “Our partnership is essential to our vision of becoming the world’s most loved airline. I’m grateful for the solid foundation we’ve built together and the support from both governments that enables our continued success.”
Korean Air’s fleet modernisation will enhance passenger travel experience and comfort while reducing carbon emissions to support the airline’s Environmental, Social, and Governance (ESG) commitments.
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