The flag carrier of South Korea and its largest airline, Korean Air, has announced it will acquire over 100 Boeing aircraft, along with spare engines and 20-year engine maintenance, for a total value of $50 billion, Associated Press reported.
The deal covers 103 Boeing aircraft — 20 Boeing 777-9s, 25 Boeing 787-10s, 50 Boeing 737-10 passenger jets and eight Boeing 777-8F freighters — worth $36.2 billion, along with $690 million for 19 spare engines from GE Aerospace and CFM International and a $13 billion, 20-year engine maintenance contract with GE Aerospace, according to the airline.
The deal was formalized at a signing ceremony in Washington on Monday during a meeting between South Korean President Lee Jae Myung and U.S. President Donald Trump.
«This deal is a strategic choice to strengthen Korean Air’s partnership with the U.S. aviation industry. This strategic investment in the U.S. market will further strengthen the airline’s operational capabilities and global competitiveness, and foster robust commercial ties that will drive sustained growth,» Korean Air stated, as cited by AP.
