Korean Air has finalized an order for 103 Boeing aircraft, the largest purchase in the carrier’s history, in a deal that the airline and the manufacturer valued at about $44.8 billion including engines and long-term maintenance. The agreement was announced on September 16 and covers four Boeing models. Company and government officials from the United States and South Korea attended the event, which both sides described as an outcome of bilateral trade negotiations between Seoul and Washington.
The order comprises 20 Boeing 777-9 jets and eight 777-8 Freighters, 25 787-10 widebodies and 50 single-aisle 737-10 aircraft. Boeing put the value of the airplanes at $36.2 billion at list prices. A separate $8.6 billion component covers 21 spare engines supplied by GE Aerospace and CFM International, along with a 15-year maintenance agreement for 28 aircraft. Korean Air said the purchase would support fleet renewal and its expansion of long-haul and cargo operations.
Korean Air Chairman and Chief Executive Walter Cho joined Boeing Commercial Airplanes President and Chief Executive Stephanie Pope and CFM International head Gael Meheust at the announcement. US Ambassador to South Korea Michelle Steel and South Korean Trade Minister Kim Jung-kwan also took part. Boeing described the transaction as a tangible result of a procurement commitment the two governments outlined in an earlier memorandum of understanding tied to their trade discussions.
The purchase lands as Korean Air integrates Asiana Airlines following the completion of their merger, a process that has reshaped South Korea’s aviation market. New widebody jets are expected to replace older aircraft and add capacity on routes to North America and Europe, while the freighters would strengthen a cargo business that carried the airline through weaker passenger periods. Deliveries are scheduled to run over several years.
For Boeing, the order adds to a recovery in widebody demand and follows a series of large commitments from Asian and Middle Eastern carriers. The manufacturer has worked to stabilize production and clear a backlog after years of regulatory and supply chain pressure. Korean Air did not provide a full delivery timetable, and the companies said final aircraft configurations and options would be confirmed as the program progresses.
