Boeing, Korean Air finalize order for 103 aircraft
- Of the aircraft in the order, only the 787 is currently certified for commercial service, while Boeing is still developing the 777-8 Freighter
Korean Air finalized a historic $36.2 billion order for 103 Boeing aircraft, including passenger jets and freighters, to expand its fleet and improve fuel efficiency.
- Specific Boeing aircraft models included in the 103-plane order.
- The actual market value and broader package details.
- Korean Air's strategic reasons for fleet expansion.
Korean Air has finalized an order for 103 Boeing aircraft worth $36.2 billion at list prices, including wide-body passenger jets, freighters and single-aisle planes, the airline and the US planemaker said on Wednesday, completing a deal first announced in 2025.
The order includes 20 777-9s, 25 787-10s, 50 737-10s and eight 777-8 Freighters.
Of the aircraft in the order, only the 787 is currently certified for commercial service, while Boeing is still developing the 777-8 Freighter.
Aviation advisory and intelligence firm IBA estimated the aircraft order is worth about $12.6 billion at current market prices after discounts.
Korean Air said the broader package is valued at $44.8 billion, and also includes an $8.6 billion deal for the purchase of 21 spare engines from GE Aerospace and CFM International and a 15-year engine maintenance agreement covering 28 aircraft.
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Korean Air said the investment would support long-term fleet expansion following its integration of Asiana Airlines and help improve fuel efficiency as it transitions to newer aircraft models.
The plan, which is the largest in Korean Air’s history, was first unveiled during South Korean President Lee Jae-myung’s visit to Washington last year.
Korean Air CEO Cho Won-tae previously said that the newer aircraft would help Korean Air expand to more destinations in the United States and Latin America, and that about 80% of the jets would replace existing aircraft in the carrier’s fleet.
Cho on Wednesday described the completion of the agreements as a significant milestone and said the investment underscored ties between the United States and South Korea, while Boeing said the deal was a result of bilateral trade discussions.