Korean Air finalises $44 billion-plus deal for 103 Boeing aircraft and GE engines

Korean Air has finalised a US$44.8 billion (KRW 60 trillion) agreement to acquire next-generation aircraft and engines, concluding the procurement plan announced in Washington D.C. in August 2025. The contract includes US$36.2 billion for 103 Boeing aircraft. The airline also finalised agreements totalling approximately US$8.6 billion with GE Aerospace and CFM International for 21 spare engines and a 15-year engine maintenance contract. Korean Air and Boeing hosted a signing ceremony on September 15 at the Conrad Seoul hotel. Attendees included Walter Cho, Chairman and CEO of Korean Air and Hanjin Group; Stephanie Pope, President and CEO of Boeing Commercial Airplanes; Gaël Méheust, President and CEO of CFM International; and Youngje Kim, President of GE Aerospace, Korea. Key government and financial representatives from both nations also attended, including Michelle Steel, U.S. Ambassador to the Republic of Korea; James Kim, Chairman and CEO of AMCHAM Korea; Jungkwan Kim, Minister of Trade, Industry and Resources; and Ki-yeon Hwang, President of the Export-Import Bank of Korea. “Bringing our Washington agreements to the finish line today is a proud moment for Korean Air,” said Walter Cho, Chairman and CEO of Korean Air and Hanjin Group. “This is much more than a business deal. It is a testament to the trust and the unbreakable alliance between our two countries. While Boeing provides our wings, GE gives us the heartbeat of our fleet. This historic investment guarantees the reliability and efficiency our customers expect, allowing us to keep connecting people and businesses between our two economies.” The aircraft order comprises 20 Boeing 777-9s, 25 Boeing 787-10s, 50 Boeing 737-10s, and eight Boeing 777-8F freighters. The engine agreements cover 21 spare engines from GE Aerospace and CFM International, and a 15-year maintenance contract for 28 aircraft. This investment secures a predictable long-term fleet introduction schedule to support capacity growth following the Asiana Airlines integration. The transition to next-generation models will also improve overall fleet fuel efficiency and support the airline’s carbon reduction goals. “Finalising our Washington MOU was made possible by the trust and support of both governments, our financial institutions, and our partners,” said a Korean Air spokesperson. “We will leverage this fleet modernisation to strengthen our competitive edge and continue driving economic exchange between Korea and the United States.” For Editorial Inquiries Contact: Editor Matt Driskill at [email protected] For Advertising Inquiries Contact: Head of Sales Sally Passey at [email protected]