Another international airline has announced a historic deal with Boeing to significantly expand its fleet.
Korean Air said on Monday it plans to buy 103 planes from the aircraft manufacturer, which is the largest-ever aircraft order in the carrier¡¯s history.?
The record-breaking order includes a mix of 787 Dreamliner planes, 777s, and 737s, worth about $36.5 billion, according to Reuters. About half of Korean¡¯s new plane order will comprise 50 Boeing 737 Max 10s, the single-aisle jets with a range of about 3,100 nautical miles.?
The yet-to-launch Max 10 aircraft has faced numerous delays as Boeing faces challenges with federal regulators to get the plane variant officially certified for operation. Boeing CEO Kelly Ortberg said on the company¡¯s most recent earnings call in July that he expects the Max 10 to receive certification from the FAA sometime in 2026.
Aside from the Max 10 jets, the remainder of Korean Air¡¯s order is for widebody planes, including 20 Boeing 777-9 jets and 25 Boeing 787-10 Dreamliner aircraft. The 45 jets are the largest-ever widebody order from an Asian airline in Boeing¡¯s history and will be in addition to an order for 40 Boeing widebody planes the carrier placed in March.
The refreshed fleet will help Korean Air expand to new destinations across the Western Hemisphere, including in the United States, Latin America, and South America, Korean Air CEO Walter Cho told Reuters. Roughly 80% of the new planes will be used to replace existing aircraft in Korean¡¯s fleet.?
The airline also made a deal with GE for new aircraft engines and maintenance that is valued at an additional $13.7 billion, Reuters reports.
¡°This agreement with our long-standing partners, Boeing and GE, marks a pivotal moment for Korean Air," Cho said. "Acquiring these next-generation aircraft is the core of our fleet modernization strategy, delivering significant gains in fuel efficiency and enhancing the passenger experience across our global network. This investment is also a critical enabler for our future as a merged airline with Asiana, to ensure that our combined carrier is one of the most competitive airlines in the industry."
In a pattern that seems to be growing into a popular trend, Korean Air announced the order while South Korean President Lee Jae Myung visited President Trump in Washington, D.C. Other international carriers like Qatar Airways and Bahrain-based Gulf Air made similar large orders with Boeing while their national leaders were visiting with Trump this summer as well.
"We are honored to strengthen our partnership with Korean Air through this landmark agreement, which reflects the value and capabilities of Boeing's market-leading airplane family," said Stephanie Pope, president and CEO of Boeing Commercial Airplanes. "As Korean Air transitions to a larger unified carrier, we are committed to supporting the airline's growth with one of the world's most efficient fleets."
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