Korean Air announced its intent to purchase 103 next-generation aircraft from Boeing, 19 spare engines from GE Aerospace and CFM International, and a comprehensive engine maintenance program with GE Aerospace on August 25. The total investment is valued at approximately US$50 billion (KRW 70 trillion): US$36.2 billion (KRW 50 trillion) for Boeing aircraft, US$690 million (KRW 1 trillion) for 19 spare engines and an additional US$13 billion (KRW 18.2 trillion) for the 20-year engine maintenance service contract.
The agreements were formalised on August 25 at a signing ceremony in Washington D.C, attended by Walter Cho, Chairman and CEO of Korean Air and Hanjin Group; Stephanie Pope, President and CEO of Boeing Commercial Airplanes; and Russell Stokes, President and CEO of Commercial Engines & Services at GE Aerospace.
The aircraft purchase order includes 20 Boeing 777-9s, 25 Boeing 787-10s, 50 Boeing 737-10s, and eight Boeing 777-8F freighters. The aircraft are scheduled for phased delivery through the end of 2030.
“This agreement with our long-standing partners, Boeing and GE, marks a pivotal moment for Korean Air,” said Walter Cho, chairman and CEO of Korean Air. “Acquiring these next-generation aircraft is the core of our fleet modernisation strategy, delivering significant gains in fuel efficiency and enhancing the passenger experience across our global network. This investment is also a critical enabler for our future as a merged airline with Asiana, to ensure that our combined carrier is one of the most competitive airlines in the industry.”
“We are honoured to strengthen our partnership with Korean Air through this landmark agreement, which reflects the value and capabilities of Boeing’s market-leading airplane family,” said Stephanie Pope, president and CEO of Boeing Commercial Airplanes. “As Korean Air transitions to a larger unified carrier, we are committed to supporting the airline’s growth with one of the world’s most efficient fleets.”
This strategic aircraft acquisition is a proactive measure to support Korean Air’s long-term growth following its integration with Asiana Airlines. The airline’s investment plan extends into the mid-to-late 2030s, and reflects delivery delays affecting the global aviation industry.
Korean Air’s fleet strategy will standardise its long-term operations around five highly-efficient aircraft families: the Boeing 777, 787 and 737, along with the Airbus A350 and A321-neo. This move is expected to ensure a stable capacity growth, achieve economies of scale through fleet simplification, enhance fuel efficiency, reduce carbon emissions, and improve the overall customer experience.
In addition to the new aircraft, Korean Air will acquire 11 spare engines from GE Aerospace and eight from CFM International. The airline will also receive 20 years of engine maintenance service from GE Aerospace for 28 aircraft, representing a significant investment in operational stability and safety.
Korean Air has a long history of fostering close ties between the two countries, beginning with the opening of its first U.S. cargo route (Seoul – Tokyo – Los Angeles) in April 1971 and its first passenger route (Seoul – Tokyo – Honolulu – Los Angeles) in April 1972. This cooperation continues today through its trans-Pacific joint venture with Delta Air Lines.
This deal is a strategic choice to strengthen Korean Air’s partnership with the U.S. aviation industry. Korean Air currently collaborates closely with a broad range of U.S.-based aviation companies, including Pratt & Whitney, General Electric (GE), Hamilton Sundstrand and Honeywell.
As Korea’s leading flag carrier, Korean Air will continue to serve as a vital bridge between the two countries. This strategic investment in the U.S. market will further strengthen the airline’s operational capabilities and global competitiveness, and foster robust commercial ties that will drive sustained growth.
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