SEATTLE: Korean Air has finalised an order for 103 Boeing aircraft worth US$36.2 billion (RM147 billion) at list prices, including wide-body passenger jets, freighters and single-aisle planes, the airline and the US planemaker said yesterday, completing a deal first announced in 2025.
The order, the largest in Korean Air’s history, comprises 20 Boeing 777-9s, 25 787-10s, 50 737-10s and eight 777-8 Freighters.
Of the four aircraft types, only the 787 is currently certified for commercial service. Boeing is still developing the 777-8 Freighter.
Aviation advisory and intelligence firm IBA estimated the aircraft order is worth about US$12.6 billion at current market prices after discounts, substantially below its US$36.2 billion list-price value.
Korean Air said the broader investment package is valued at US$44.8 billion. In addition to the aircraft, it includes an US$8.6 billion agreement to purchase 21 spare engines from GE Aerospace and CFM International, as well as a 15-year engine maintenance agreement covering 28 aircraft.
The airline said the investment would support its long-term fleet expansion following its integration of Asiana Airlines while improving fuel efficiency as it transitions to newer aircraft models.
The plan was first unveiled during South Korean President Lee Jae-myung’s visit to Washington last year.
Korean Air CEO Cho Won-tae has previously said the new aircraft would enable the carrier to expand to more destinations in the US and Latin America. About 80% of the jets are expected to replace aircraft already in Korean Air’s fleet.
Cho yesterday described the completion of the agreements as a significant milestone and said the investment underscored ties between the US and South Korea.
Boeing said the deal was a result of bilateral trade discussions. – Reuters
