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The contract includes USD 36.2 billion for 103 Boeing aircraft. The airline also finalized agreements totaling approximately USD 8.6 billion with GE Aerospace and CFM International for 21 spare engines and a 15-year engine maintenance contract.
Korean Air and Boeing hosted a signing ceremony on September 15 at the Conrad Seoul hotel. Attendees included Walter Cho, Chairman and CEO of Korean Air and Hanjin Group; Stephanie Pope, President and CEO of Boeing Commercial Airplanes; Gaël Méheust, President and CEO of CFM International; and Youngje Kim, President of GE Aerospace, Korea.
Key government and financial representatives from both nations also attended, including Michelle Steel, U.S. Ambassador to the Republic of Korea; James Kim, Chairman and CEO of AMCHAM Korea; Jungkwan Kim, Minister of Trade, Industry and Resources; and Ki-yeon Hwang, President of the Export-Import Bank of Korea.
“Bringing our Washington agreements to the finish line today is a proud moment for Korean Air,” said Walter Cho, Chairman and CEO of Korean Air and Hanjin Group. “This is much more than a business deal. It is a testament to the trust and the unbreakable alliance between our two countries.”
Cho added, “While Boeing provides our wings, GE gives us the heartbeat of our fleet. This historic investment guarantees the reliability and efficiency our customers expect, allowing us to keep connecting people and businesses between our two economies.”
The aircraft order comprises 20 Boeing 777-9s, 25 Boeing 787-10s, 50 Boeing 737-10s, and eight Boeing 777-8F freighters. The engine agreements cover 21 spare engines from GE Aerospace and CFM International, and a 15-year maintenance contract for 28 aircraft.
This investment secures a predictable long-term fleet introduction schedule to support capacity growth following the Asiana Airlines integration. The transition to next-generation models will also improve overall fleet fuel efficiency and support the airline’s carbon reduction goals.
"Finalizing our Washington MOU was made possible by the trust and support of both governments, our financial institutions, and our partners," said a Korean Air spokesperson. "We will leverage this fleet modernization to strengthen our competitive edge and continue driving economic exchange between Korea and the United States."
Tags: Walter Cho, Korean Air
