Korean Air is advancing its strategic partnership with Boeing and GE Aerospace to secure crucial delivery positions for next-generation aircraft amid ongoing global supply chain disruptions.
The three companies met in Washington D.C. on March 21, with Walter Cho, Chairman and CEO of Korean Air and Hanjin Group, Kelly Ortberg, President & CEO of Boeing, and Russell Stokes, President & CEO of Commercial Engines and Services at GE Aerospace leading discussions on enhanced cooperation.
This partnership acceleration comes as Korean Air looks to expand its fleet following the integration of Asiana Airlines, with the carrier working diligently to maintain its fleet renewal timeline despite industry-wide supply constraints.
The meeting builds upon the Memorandum of Understanding signed at the 2024 Farnborough International Airshow, which included firm orders for 20 Boeing 777-9 and 20 Boeing 787-10 widebody aircraft set for delivery through 2033. The agreement also includes options for 10 additional aircraft under similar terms.
Additionally, Korean Air has committed to finalizing contracts for eight spare engines from GE Aerospace, with two additional engine options, alongside a comprehensive maintenance agreement for GE9X engines that will power their Boeing 777-9 fleet.
The combined agreements represent a substantial investment of $32.7 billion (KRW 47.97 trillion), with $24.9 billion allocated for aircraft and $7.8 billion for engines and maintenance services.
“Boeing and GE Aerospace provide the advanced technology that powers our commitment to excellence,” said Walter Cho, Chairman and CEO of Korean Air and Hanjin Group. “Our partnership is essential to our vision of becoming the world’s most loved airline.”
The fleet modernization initiative will not only enhance passenger experience and comfort but also contribute to Korean Air’s Environmental, Social, and Governance (ESG) commitments by reducing carbon emissions through more fuel-efficient aircraft.
Korean Air, serving global routes for over 55 years, currently operates 161 aircraft serving 116 cities across 40 countries with more than 20,000 employees. The carrier is a founding member of the SkyTeam airline alliance and has expanded its transpacific presence through its joint venture with Delta Air Lines.
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