Korean Air finalises $44.8bn Boeing deal for 103 aircraft

Korean Air has finalised a USD 44.8 billion (KRW 60 trillion) agreement to acquire next-generation aircraft and engines, completing the procurement plan announced in Washington, D.C., in August 2025.

Boeing and Korean Air have finalised an order for 103 aircraft, covering the manufacturer’s widebody and single-aisle families. The order includes 20 777-9s, 25 787-10s, 50 737-10s, and eight 777-8 Freighters.

The agreement includes USD 36.2 billion for the 103 Boeing aircraft. Korean Air has also finalised agreements worth approximately USD 8.6 billion with GE Aerospace and CFM International for 21 spare engines and a 15-year engine maintenance contract.

The milestone highlights the outcome of bilateral trade negotiations and reflects the continued strength of the U.S.-Republic of Korea industrial partnership, Boeing said.

The previously unidentified order was commemorated at an event attended by Korean Air Chairman and CEO Walter Cho, Boeing Commercial Airplanes President and CEO Stephanie Pope, CFM International President and CEO Gaël Méheust, along with senior government and financial leaders, including U.S. Ambassador to the Republic of Korea Michelle Steel and ROK Minister of Trade, Industry, and Resources Kim Jung-kwan.

Korean Air CEO Cho previously said the new aircraft would help the airline expand to more destinations in the United States and Latin America. He added that around 80% of the jets would replace existing aircraft in the carrier’s fleet, according to Reuters.

“Bringing our Washington agreements to the finish line today is a proud moment for Korean Air,” said Walter Cho, Chairman and CEO of Korean Air and Hanjin Group.

“This is much more than a business deal. It is a testament to the trust and the unbreakable alliance between our two countries. While Boeing provides our wings, GE gives us the heartbeat of our fleet. This historic investment guarantees the reliability and efficiency our customers expect, allowing us to keep connecting people and businesses between our two economies,” Cho added.

The investment will provide Korean Air with a predictable long-term fleet introduction schedule to support capacity growth following the integration of Asiana Airlines. The adoption of next-generation aircraft will also improve overall fleet fuel efficiency and support the airline’s carbon reduction goals, Korean Air said.

“Finalising our Washington MOU was made possible by the trust and support of both governments, our financial institutions, and our partners,” said a Korean Air spokesperson. “We will leverage this fleet modernisation to strengthen our competitive edge and continue driving economic exchange between Korea and the United States.”