South Korea’s national flag carrier Korean Air announced the US$44.8 billion agreement at a signing ceremony held at Conrad Seoul. The deal includes 103 Boeing aircraft, 21 spare engines and a 15-year engine maintenance agreement. Attendees at the ceremony included Korean Air and Hanjin Group Chairman and CEO Walter Cho; Boeing Commercial Airplanes President and CEO Stephanie Pope; CFM International President and CEO Gaël Méheust; and GE Aerospace Korea President Youngje Kim.
Commenting on the agreement, Korean Air and Hanjin Group Chairman and CEO Walter Cho said, “Finalizing today the agreements we reached in Washington is a proud moment for Korean Air. This is much more than a commercial agreement. It is a testament to the trust and unwavering alliance between our two countries. Boeing provides our wings, while GE powers the heartbeat of our fleet. This historic investment will ensure the reliability and efficiency our customers expect, enabling us to maintain the connections between our two economies through people and businesses.”
Korean Air said the agreement covers 20 Boeing 777-9s, 25 Boeing 787-10s, 50 Boeing 737-10s and eight Boeing 777-8F freighter aircraft. In addition, the deal includes 21 spare engines to be supplied by GE Aerospace and CFM International, as well as a 15-year maintenance agreement covering 28 aircraft.
