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Korean Air has signed an agreement to purchase 103 aircraft from Boeing, which would dramatically expand its existing 737, 787 and 777 commitments as well as adding a new freighter type to its orderbook with the 777-8F.
The purchase deal was signed in Washington in parallel with the state visit of South Korean President Lee Jae Myung. The timing for the conversion of this agreement to firm orders has not yet been confirmed, a Korean Air official told Aviation Week on Aug. 26.
The deal includes 20 777-9s, 25 787-10s, 50 737-10s and eight 777-8Fs. Deliveries of these aircraft are planned to occur in the 2030s, and engine choices are still under review, the official said.
Korean Air also revealed deals for spare engines for its existing fleet, including 11 GE90 engines for 777s and eight CFM engines for 737s. The carrier announced a 20-year engine maintenance service agreement with GE Aerospace covering 28 aircraft.
The purchase agreement “was made in consideration of the overall fleet growth and replacement [needs] for Hanjin Group's airlines,” the Korean Air official added. The carrier is in the process of merging with Asiana Airlines, and the group is also merging its LCC subsidiaries.
Korean Air’s “long-term plan is to streamline the entire group's fleet to five highly efficient aircraft types,” comprising 787s, 777s, A350s, 737 MAXs, and A321neos, Korean Air said.
The carrier already has 20 777-9s on order, plus 30 787-10s on order with 10 in service. Korean Air announced significant orders for both types last year. The airline also has orders for 19 737 MAX aircraft, including 12 737-10s, according to the Aviation Week Network Fleet Discovery database
Korean Air currently has no freighters on order. The carrier agreed to sell Asiana’s entire cargo fleet to address regulators’ concerns about the Korean Air-Asiana merger.
The two airlines also have a significant orderbook with Airbus, with combined orders for more than 50 A321neos and 46 A350s, according to Fleet Discovery.
