Korean Air is finalising a $32.7 billion agreement with Boeing and GE Aerospace to purchase aircraft and engines.
A pre-signing ceremony was conducted in Washington, D.C. on March 21. Korean Air and Hanjin Group Chairman and CEO Walter Cho, Boeing President and CEO Kelly Ortberg, and GE Aerospace Commercial Engines President and CEO Russell Stokes, attended the event.
The cooperation between the airline and Boeing will further develop the Memorandum of Understanding signed at the 2024 Farnborough International Airshow. The agreement included delivery of 20 Boeing 777-9 and 20 Boeing 787-10 wide-body through 2033, with options for 10 additional aircraft under similar terms.
The airline has also agreed to finalise a contract with GE Aerospace. The orders include eight spare engines with two additional engine options and a comprehensive maintenance agreement for GE9X engines.
The agreements are worth a total of $32.7 billion, with $24.9 billion for aircraft and $7.8 billion for engines and maintenance.
This move is part of Korean Air’s fleet renewal program and its integration with Asiana Airlines.
Chairman and CEO of Korean Air and Hanjin Group Walter Cho said:
“Boeing and GE Aerospace provide the advanced technology that powers our commitment to excellence, our partnership is essential to our vision of becoming the world’s most loved airline.”
About Korean Air
Korean Air is the largest airline base in Korea. Owned by Hanjin Group. Korean Air operates from its global hub at Incheon International Airport (ICN), serving 116 cities across five continents. The airline has a 55-year history. The airline awarded 5-star rating from Skytrax in the past five years.
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