Korean Air has signed an agreement to purchase 103 Boeing aircraft at a value of around $36 billion. The deal comprises 50 Boeing 737-10s, 25 Boeing 787-10s, 20 Boeing 777-9s, and 8 777-8 freighters. This is the biggest plane purchase Korean Air has ever made.

Korean Air explains the new jets will allow it to operate more flights and retire some of its older aircraft. It is also acquiring Asiana Airlines, and the jets will assist the new company in performing more efficiently. Boeing claimed the deal would provide a boost to U.S. jobs. 

Deal announced after Trump and South Korea talks

The deal was announced in Washington shortly after a meeting between U.S. President Donald Trump and President Lee Jae Myung of South Korea. The meeting was meant to enhance trade and pressure partners to import more American products. The sale of the plane was one of a number of business arrangements concluded during that meeting.

U.S. and business leaders attended the signing ceremony. The agreement comes on the heels of other large deals associated with trade negotiations, such as investments and energy purchases. Leaders characterized the action as enhancing U.S. industry and enhancing relations between the two nations.

What the order means for Boeing and Korean Air

Boeing referred to the order as a “landmark agreement.” The purchase adds numerous new jets to Boeing’s order book and benefits Boeing after several years of difficulties. For Korean Air, the new aircraft bring newer, more efficient planes for its longer and shorter flights.

In addition to aircraft, Korean Air also agreed to engine and long-term engine maintenance deals. Delivery of these jets is anticipated during the remainder of 2030. The order will define Korean Air’s fleet for years to come and enable it to compete on global routes.

FAQs

1. How many aircraft did Korean Air order?

Korean Air ordered 103 Boeing aircraft.

2. What are the types of aircraft in the deal?

The deal involves 737-10s, 787-10s, 777-9s, and 777-8 freighters.

3. How much is the deal worth?

The order of the planes is valued at approximately $36 billion.

4. When will deliveries of the planes take place?

Deliveries by Boeing and Korean Air are anticipated through 2030.

5. Was the U.S. government involved in the agreement?

The deal was announced following a meeting between President Trump and South Korea’s president and included U.S. officials at the signing ceremony.

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