Korean Air Signs $50B Order for 103 Boeing Jets, GE Engines

Korean Air announced a record-setting agreement with Boeing Co. to buy 103 Boeing airplanes and GE Aerospace engines and maintenance services, a package valued at about 50 billion and formalized in a Washington signing ceremony during a high-profile visit by South Korea’s president. The deal, designed to modernize the carrier’s fleet as it moves toward a more unified operation with Asiana, covers a mix of next-generation narrow- and wide-body jets and includes a long-term engine support arrangement.

The aircraft portion of the order totals 36.2 billion, and includes 20 Boeing 777-9s, 25 787-10s, 50 737-10s, and eight 777-8 freighters. Deliveries are planned through 2030, with the carrier noting that roughly half of the new jets will replace older airplanes in its fleet and the rest will support growth into new markets. In addition to the aircraft purchase, Korean Air is purchasing 19 spare engines from GE Aerospace and CFM International, worth about 690 million, and signing a 20-year engine maintenance contract with GE Aerospace valued at about 13 billion.

The signing ceremony was attended by Korean Air’s leadership alongside Boeing’s Stephanie Pope and GE Aerospace executives,...