Korean Air has completed its largest-ever aircraft procurement, signing a $44.8 billion contract to acquire 103 new Boeing jets and engine support services, in a move aimed at modernizing its fleet ahead of its anticipated merger with Asiana Airlines.
The agreement, initially outlined in Washington in August 2025, includes the purchase of 20 Boeing 777-9s, 25 787-10s, 50 737-10s, and eight 777-8F freighters. In addition, the deal encompasses approximately $8.6 billion for 21 spare engines and a 15-year maintenance contract covering 28 aircraft, with signing ceremonies attended by industry executives and Korean and US government officials in Seoul.
Walter Cho, chairman and CEO of Hanjin Group and Korean Air, underscored the strategic importance of the deal, emphasizing trust and cooperation between Korea and the United States. He expressed confidence that the investment would enhance fleet efficiency, capacity, and environmental sustainability, allowing Korean Air to respond effectively to the challenges of the post-pandemic aviation industry.
"This historic investment guarantees the reliability and efficiency our customers expect, allowing us to keep connecting people and businesses between our two economies," said Cho.
The move supports the airline’s fleet renewal strategy, which is critical as the airline prepares for its merger with Asiana Airlines scheduled for December. The new fleet is expected to improve operational efficiency, lower operating costs, and contribute to Korea’s economic and technological cooperation efforts, with financial backing from the Export-Import Bank of Korea.
