Seoul, 25 March - Korean Air, South Korea’s flagship carrier, has officially finalized a monumental billion-dollar order with American aerospace giants Boeing and GE Aerospace, marking one of the largest deals in the airline’s history and a significant milestone in its fleet modernization efforts. The agreement, valued at approximately $32.7 billion, encompasses the purchase of new aircraft and engines, positioning Korean Air to enhance its operational capacity and reinforce its standing among the world’s top airlines. Signed on March 21, 2025, in Washington, D.C., the deal was celebrated with a high-profile ceremony attended by key figures, including Korean Air Chairman and CEO Walter Cho, Boeing President and CEO Kelly Ortberg, and GE Aerospace Commercial Engines and Services President and CEO Russell Stokes, alongside South Korea’s Industry Minister Ahn Duk-geun and U.S. Secretary of Commerce Howard Lutnick.
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The cornerstone of this agreement is a $24.9 billion contract with Boeing for 50 widebody aircraft, comprising 20 Boeing 777-9s and 20 Boeing 787-10s, with an option for an additional 10 planes. Deliveries are slated to occur progressively through 2033, with the first of the next-generation 777-9s expected to join Korean Air’s fleet by 2028. The 777-9, part of Boeing’s 777X family, is the world’s largest twin-engine jet, boasting advanced technology, fuel efficiency, and an expanded cabin designed for enhanced passenger comfort. Meanwhile, the 787-10, the largest variant of Boeing’s Dreamliner series, is renowned for its lightweight composite structure and lower operating costs, making it an ideal fit for Korean Air’s long-haul routes. This order builds on a memorandum of understanding initially signed in July 2024 at the Farnborough International Airshow, reflecting the airline’s long-term confidence in Boeing’s engineering prowess.
Complementing the aircraft purchase is a $7.8 billion deal with GE Aerospace, securing eight GE9X engines to power the 777-9 fleet, with options for two more, alongside a comprehensive maintenance and repair service contract. The GE9X, one of the most powerful and efficient jet engines ever built, aligns with Korean Air’s commitment to reducing carbon emissions while maintaining high performance. This dual investment in cutting-edge aircraft and engines underscores the airline’s strategy to modernize its fleet amid global supply chain challenges, which have seen aircraft production drop from 1,813 units in 2018 to 1,254 in 2024, according to the International Air Transport Association.
The finalized order comes at a pivotal time for Korean Air, following its $1.3 billion acquisition of a two-thirds stake in Asiana Airlines in December 2024. This merger has catapulted Korean Air into the ranks of Asia’s largest carriers, with plans to fully integrate Asiana by January 1, 2027. The new aircraft and engines will play a critical role in this transition, enabling Korean Air to expand its route network and improve service quality. The deal also highlights deepening industrial ties between South Korea and the United States, with the signing ceremony marking the first joint ministerial event under the second Trump administration, signaling the potential for broader collaboration in sectors like aviation and technology. For Korean Air, this investment is not just about growth—it’s a bold step toward redefining its global presence with a fleet poised for efficiency, sustainability, and passenger satisfaction.