Boeing is reportedly on the verge of securing a major order for its 777X jets from South Korea's largest carrier, Korean Air. Industry sources suggest a deal involving 20 to 30 of the long-haul aircraft could be finalized as early as this month's Farnborough Airshow, with a total value ranging from $4 billion to $6 billion. This potential agreement marks a potential shift in Korean Air's recent strategy. In March, the airline surprised the industry by placing a significant order for 33 A350 jets with Boeing's European rival, Airbus. However, it appears Korean Air might be returning to its traditional supplier of long-haul aircraft, Boeing, with the 777X deal.
While neither company has officially confirmed the negotiations, both have acknowledged ongoing discussions. Boeing remains tight-lipped about specific details, while Korean Air has stated they are in talks with various manufacturers but haven't reached any definitive conclusions. The potential order for the 777X comes at a crucial time for Boeing.
The aircraft has faced delays due to regulatory hurdles, and securing a major order from a well-established carrier like Korean Air would be a significant boost for the program. The 777X boasts improved fuel efficiency and passenger capacity compared to its predecessor, making it an attractive option for airlines looking to expand their long-haul routes.
This development also highlights the dynamic competition between Boeing and Airbus in the widebody aircraft market. Both manufacturers are vying for dominance in this lucrative segment, and Korean Air's decision will be closely watched by industry analysts. The Farnborough Airshow, scheduled for July, could be the stage for the official announcement of the deal, potentially solidifying Boeing's position in the widebody market and marking a strategic shift for Korean Air.