WASHINGTON: Korean Air confirmed a historic order for 103 Boeing aircraft on Monday during South Korean President Lee Jae Myung’s official visit to Washington.
The order represents the largest aircraft purchase in the Korean carrier’s fifty-five year history and includes a mix of Boeing 787, 777 and 737 models.
Boeing Commercial Airplanes CEO Stephanie Pope and Korean Air CEO Cho Won-tae participated in the official announcement ceremony alongside US Commerce Secretary Howard Lutnick.
Korean Air simultaneously revealed a separate thirteen point seven billion dollar agreement with GE Aerospace covering engine purchases and maintenance services.
One source confirmed that part of the order involves re-equipping Asiana Airlines, a subsidiary of South Korea’s largest airline group.
South Korea’s industry ministry had previously indicated in March that Korean Air would finalise a thirty two point seven billion dollar deal for new Boeing aircraft and GE engines.
The airline had already committed last year to ordering twenty 777-9 and twenty 787-10 planes from Boeing with options for ten additional aircraft.
Many nations engaged in trade negotiations with the Trump administration have recently announced or planned significant Boeing aircraft orders.
Korean Air was established in 1969 when the state-owned Korean Air Lines was acquired by South Korean conglomerate Hanjin Kal.
The airline remains a founding member of the global SkyTeam airline alliance. – Reuters