Korean Air Signs Agreement to Purchase Over 100 Boeing Aircraft

• Korean Air has signed an agreement worth 50 billion US dollars for the acquisition of 103 Boeing aircraft.
• The agreement includes fleet modernization for the airline and strengthening of competitiveness.
• The signing ceremony took place during a meeting between the President of South Korea and Trump.

SEOUL, South Korea (AP) — Korean Air announced an agreement worth 50 billion US dollars for the purchase of over 100 Boeing aircraft and several spare engines, as well as a 20-year maintenance contract for the engines.

This agreement was formalized during the signing ceremony on Monday in Washington, where the President of South Korea Lee Jae-myung met with President Donald Trump.

The agreement includes 36.2 billion dollars for 103 upcoming Boeing aircraft; 690 million dollars for 19 spare engines from GE Aerospace and CFM International; and 13 billion dollars for a 20-year maintenance contract for the engines with GE Aerospace, according to a statement from Korean Air.

"This agreement is a strategic choice for strengthening Korean Air's partnership with the American aviation industry," the company stated. "This strategic investment in the US market will further enhance the operational capabilities of the airline and global competitiveness, as well as contribute to the development of local commercial ties that will stimulate stable growth."

The order for the aircraft includes 20 Boeing 777-9, 25 Boeing 787-10, 50 Boeing 737-10, and eight Boeing 777-8F freighters. The aircraft are expected to be delivered gradually by the end of 2030.

Present at the signing ceremony were Walter Cho, chairman and chief executive of Korean Air and Hanjin Group; Steven Poup, president and chief executive of Boeing Commercial Airplanes; and Russell Stokes, president and chief executive of Commercial Engines & Services at GE Aerospace.

Tags: Aviation