On March 21st, Walter Cho, Chairman and CEO of Korean Air and Hanjin Group, Kelly Ortberg, President & CEO of Boeing, and Russell Stokes, President & CEO of Commercial Engines and Services GE Aerospace, met in Washington D.C. to discuss ways to enhance cooperation.
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Korean Air is expediting its fleet renewal program to support expansion following the Asiana Airlines integration. The airline is working to secure aircraft delivery positions to maintain its fleet plan with current industry supply conditions.
The airline will further develop the Memorandum of Understanding (MoU) signed with Boeing at the 2024 Farnborough International Airshow. The agreement encompasses firm orders for 20 Boeing 777-9 and 20 Boeing 787-10 widebody aircraft for delivery through 2033, with options for 10 additional aircraft under similar terms.
Korean Air has also agreed to finalize contracts for 8 spare engines from GE Aerospace, with two additional engine options, and a comprehensive maintenance agreement for GE9X engines to power the Boeing 777-9 fleet. The agreements amount to $32.7 billion – $24.9 billion for aircraft and $7.8 billion for engines and maintenance.
