Order covering 103 Boeing jets, spare engines and maintenance supports fleet renewal ahead of Asiana merger
Korean Air has closed out its largest-ever aircraft order, finalizing a $44.8 billion deal for jets and engines first outlined in Washington more than a year ago, the airline said Wednesday.
The package includes $36.2 billion for 103 Boeing aircraft — 20 Boeing 777-9s, 25 787-10s, 50 737-10s and eight 777-8F freighters — and roughly $8.6 billion in combined agreements with GE Aerospace and CFM International covering 21 spare engines and a 15-year maintenance contract for 28 aircraft.
Korean Air signed a memorandum of understanding with the three companies in August 2025 during President Lee Jae Myung's visit to Washington.
"Bringing our Washington agreements to the finish line today is a proud moment for Korean Air," Walter Cho, chairman and CEO of Hanjin Group and Korean Air, said during a signing ceremony in Seoul. "This is much more than a business deal. It is a testament to the trust and the unbreakable alliance between our two countries."
Senior officials from Korean Air's partner companies, including CEOs from Boeing Commercial Airplanes, CFM International and GE Aerospace Korea, attended the ceremony, alongside government officials such as Industry Minister Kim Jung-kwan and US Ambassador to South Korea Michelle Steel.
"While Boeing provides our wings, GE gives us the heartbeat of our fleet," said Cho. "This historic investment guarantees the reliability and efficiency our customers expect, allowing us to keep connecting people and businesses between our two economies."
Korean Air's ties to Boeing and GE-powered engines stretch back decades, to 1971, when the airline opened its first US cargo route.
The deal's timing underscores the practical urgency, as Korean Air moves to modernize its fleet, expand transport capacity and improve customer service ahead of its merger with Asiana Airlines, set for December.
The order shields the airline from aircraft delivery bottlenecks that have gripped the industry since the COVID-19 pandemic, and more fuel-efficient jets promise lower operating costs as well as reduced emissions.
"Through high-efficiency new aircraft, we will actively respond to changes shaping the future of the aviation industry," a Korean Air official said.
The airline said it would keep contributing to stronger exchange and economic cooperation between Korea and the US, drawing on close bilateral cooperation among governments, financial institutions and partners.
It noted that Korean officials lent policy support to bolster the aviation sector's competitiveness. The Export-Import Bank of Korea pledged financing support to help push the investment across the finish line.
minmin@heraldcorp.com
