SEOUL—Korean Air Co. has announced a major agreement with Boeing, signing a memorandum of understanding to purchase up to 50 aircraft in a deal valued at approximately 30 trillion won (US$21.6 billion).
According to Yonhap News Agency, the agreement includes the acquisition of 20 777-9s and 30 787-10s, with an option to purchase an additional 10 of the largest 787 Dreamliner variant. The airline emphasized that these models are among the most fuel-efficient and environmentally friendly long-haul and mid-sized airplanes currently available. This strategic acquisition aims to support Korean Air's growth and renew its fleet to enhance its reach into high-demand markets in Europe and North America, as well as key regional routes in Asia. Walter Cho, Chairman and CEO of Korean Air, highlighted that the addition of these Boeing aircraft represents a significant milestone in the company's strategy to expand and modernize its fleet while providing a top-tier flying experience for its customers. Additionally, the airline plans to finalize a deal with Airbus in the near future to purchase 33 A350 series aircraft, further bolstering its fleet as it phases out older models. Korean Air has also detailed plans to introduc e 203 new airplanes by 2034 as part of its long-term operational strategy. The acquisition of Asiana Airlines Inc., which is currently in progress, is expected to further consolidate Korean Air’s market position upon receiving the final regulatory approval from the United States.