Korean Air’s Boeing order is its largest-ever order and Boeing’s largest wide-body order from an Asia-based carrier
Boeing plans to sell 103 airplanes to Korean Air 003490 -0.63%decrease; red down pointing triangle Lines for $36.2 billion.
The intent to purchase is part of a larger planned investment by Korean Air to spend $50 billion on U.S. planes, spare engines and maintenance services.
The South Korean Airline aims to contract 20 years of engine maintenance service from GE Aerospace for $13 billion. It will also buy 11 spare engines from GE Aerospace and eight from CFM International for a total of $690 million, it said Monday.
The agreements were formalized at a signing ceremony in Washington, D.C.
Korean Air’s Boeing order is its largest-ever order and Boeing’s largest wide-body order from an Asia-based carrier, Boeing said. The order includes 50 737-10s, 25 787-10s, 20 777-9s and eight 777-8 freighters, and is scheduled for phased delivery through the end of 2030.
Korean Air currently operates 108 Boeing planes and has 72 of its jets on order. Its total book will be 175 Boeing planes once this deal is finalized, Boeing said.
Korean Air is buying the Boeing planes from a fuel-efficient family to support its growth, modernize its fleet and move ahead on integration following its merger with Asiana Airlines, Boeing said.
Excerpt from WSJ
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