AEROSPACE | Korean Air finalizes $44.8B Boeing aircraft deal
The agreement includes $36.2 billion for 103 Boeing aircraft and about $8.6 billion for 21 spare engines and a 15-year engine maintenance contract, the airline said Sept. 16.
Korean Air has finalized a $44.8 billion agreement covering 103 Boeing aircraft and engine-related contracts with GE Aerospace and CFM International, completing a procurement plan announced in Washington, D.C., in August 2025.
The agreement includes $36.2 billion for 103 Boeing aircraft and about $8.6 billion for 21 spare engines and a 15-year engine maintenance contract, the airline said Sept. 16.
Korean Air and Boeing held a signing ceremony Sept. 15 at the Conrad Seoul hotel. 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, along with a 15-year maintenance contract covering 28 aircraft.
Walter Cho, chairman and CEO of Korean Air and Hanjin Group, said the finalized agreements mark the completion of the procurement plan announced in Washington.
“Bringing our Washington agreements to the finish line today is a proud moment for Korean Air,” Cho said. “This is much more than a business deal. It is a testament to the trust and the unbreakable alliance between our two countries.”
Cho said the fleet investment would support the airline’s operations as it integrates Asiana Airlines.
“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,” he said.
Korean Air said the aircraft deliveries will provide a long-term schedule for fleet expansion following the Asiana integration. The airline also expects the newer aircraft to improve fleet fuel efficiency and support its carbon reduction goals.
The signing ceremony was attended by Boeing Commercial Airplanes President and CEO Stephanie Pope, CFM International President and CEO Gaël Méheust, and GE Aerospace Korea President Youngje Kim.
Government and financial representatives from South Korea and the United States also attended the ceremony.
A Korean Air spokesperson said the airline would use the fleet modernization to strengthen its operations and support economic ties between the two countries.
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