Korean Air is advancing its partnership with Boeing and GE Aerospace to secure timely delivery positions for next-generation aircraft amid global supply chain challenges.
On March 21, 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 – GE Aerospace, met in Washington D.C. to discuss ways to enhance cooperation.
Korean Air is expediting its fleet renewal program to support expansion following the Asiana Airlines integration. The airline is working to secure aircraft delivery positions to maintain its fleet plan with current industry supply conditions.
The airline will further develop the Memorandum of Understanding signed with Boeing at the 2024 Farnborough International Airshow. The agreement encompasses firm orders for 20 Boeing 777-9 and 20 Boeing 787-10 widebody aircraft for delivery through 2033, with options for 10 additional aircraft under similar terms.
Korean Air has also agreed to finalize contracts for eight spare engines from GE Aerospace, with two additional engine options, and a comprehensive maintenance agreement for GE9X engines to power the Boeing 777-9 fleet.
The agreements amount to $32.7 billion (KRW 47.97 trillion) – $24.9 billion for aircraft and $7.8 billion for engines and maintenance.
“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. I’m grateful for the solid foundation we’ve built together and the support from both governments that enables our continued success.”
Korean Air’s fleet modernization will enhance passenger travel experience and comfort while reducing carbon emissions to support the airline’s Environmental, Social, and Governance (ESG) commitments.
About Korean Air
Serving the world for more than 55 years, Korean Air is one of the world’s top 20 airlines, carrying more than 27 million passengers in 2019, pre-COVID. With its global hub at Incheon International Airport (ICN), the airline serves 116 cities in 40 countries on five continents with a modern fleet of 161 aircraft and over 20,000 professional employees.
Korean Air’s outstanding performance and commitment to the highest level of safety and customer service has widely been recognized. The airline has been granted numerous awards including a 5-star airline rating from Skytrax as well as Air Transport World’s Airline of the Year and Cargo Operator of the Year awards.
The airline is a founding member of the SkyTeam airline alliance, and has grown into one of the largest transpacific airlines through its joint venture with Delta Air Lines.
For more information about Korean Air, please visit here.
Featured image credited to Korean Air
