Sept. 16 (Reuters) - Korean Air 003490.KS has finalized an order for 103 Boeing BA.N aircraft worth $36.2 billion at list prices, including wide-body passenger jets, freighters and single-aisle planes, the airline and the U.S. planemaker said on Wednesday, completing a deal first announced in 2025.
- The order includes 20 777-9s, 25 787-10s, 50 737-10s and eight 777-8 Freighters.
- Of the aircraft in the order, only the 787 is currently certified for commercial service, while Boeing is still developing the 777-8 Freighter.
- Aviation advisory and intelligence firm IBA estimated the aircraft order is worth about $12.6 billion at current market prices after discounts.
- Korean Air said the broader package is valued at $44.8 billion, and also includes an $8.6 billion deal for the purchase of 21 spare engines from GE Aerospace and CFM International and a 15-year engine maintenance agreement covering 28 aircraft.
- Korean Air said the investment would support long-term fleet expansion following its integration of Asiana Airlines and help improve fuel efficiency as it transitions to newer aircraft models.
- The plan, which is the largest in Korean Air's history, was first unveiled during South Korean President Lee Jae-myung's visit to Washington last year.
- Korean Air CEO Cho Won-tae previously said that the newer aircraft would help Korean Air expand to more destinations in the United States and Latin America, and that about 80% of the jets would replace existing aircraft in the carrier's fleet.
- Cho on Wednesday described the completion of the agreements as a significant milestone and said the investment underscored ties between the United States and South Korea, while Boeing said the deal was a result of bilateral trade discussions.
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