Boeing and Korean Air announced a deal worth about US$36bn (£24bn) on Monday to purchase 103 planes for the carrier's next-generation aircraft. According to a joint statement from the two companies, the deal also include 19 spare engines from GE...
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Boeing and Korean Air announced a deal worth about US$36bn (£24bn) on Monday to purchase 103 planes for the carrier's next-generation aircraft.
According to a joint statement from the two companies, the deal also include 19 spare engines from GE Aerospace and CFM International, and a comprehensive engine maintenance program with GE Aerospace.
The agreements were formalized on August 25 at a signing ceremony in Washington D.C, attended by Walter Cho, Chairman and CEO of Korean Air and Hanjin Group; Stephanie Pope, President and CEO of Boeing Commercial Airplanes; and Russell Stokes, President and CEO of Commercial Engines & Services at GE Aerospace.
According to Korean Air, the aircraft purchase order includes 20 Boeing 777-9s, 25 Boeing 787-10s, 50 Boeing 737-10s, and eight Boeing 777-8F freighters. The aircraft are scheduled for phased delivery through the end of 2030.
This strategic aircraft acquisition is a proactive measure to support Korean Air's long-term growth following its integration with Asiana Airlines. The airline's investment plan extends into the mid-to-late 2030s, and reflects delivery delays affecting the global aviation industry.
Korean Air’s fleet strategy will standardize its long-term operations around five highly-efficient aircraft families: the Boeing 777, 787 and 737, along with the Airbus A350 and A321-neo. This move is expected to ensure a stable capacity growth, achieve economies of scale through fleet simplification, enhance fuel efficiency, reduce carbon emissions, and improve the overall customer experience.
In addition to the new aircraft, Korean Air will acquire 11 spare engines from GE Aerospace and eight from CFM International. The airline will also receive 20 years of engine maintenance service from GE Aerospace for 28 aircraft, representing a significant investment in operational stability and safety.
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