Korean Air has finalized an order for 103 Boeing aircraft valued at $36.2 billion at list prices, completing a deal first announced in 2025, the airline and US aircraft manufacturer said Wednesday.
The order comprises 20 Boeing 777-9 passenger aircraft, 25 787-10s, 50 737-10s and eight 777-8 Freighters. The deal covers both wide-body and single-aisle aircraft, including freighters.
Only the 787 is currently certified for commercial operations among the aircraft types included in the order, while Boeing is continuing development of the 777-8 Freighter.
Aviation advisory and intelligence firm IBA estimates the aircraft order has a current market value of around $12.6 billion after accounting for discounts.
Korean Air said the overall package is worth $44.8 billion when additional agreements are included. These comprise an $8.6 billion purchase of 21 spare engines from GE Aerospace and CFM International, along with a 15-year engine maintenance agreement covering 28 aircraft.
The airline said the investment will support long-term fleet expansion following its integration with Asiana Airlines. The introduction of newer aircraft is also expected to improve fuel efficiency as Korean Air modernises its fleet.
The aircraft purchase represents the largest order in Korean Air’s history. The plan was first announced during South Korean President Lee Jae-myung’s visit to Washington last year.
Korean Air CEO Cho Won-tae has previously said the new aircraft would allow the airline to expand its network to more destinations in the United States and Latin America. Around 80% of the aircraft are expected to replace existing planes in the carrier’s fleet.
Cho described the completion of the agreements as a significant milestone and said the investment reflected the close relationship between South Korea and the United States. Boeing said the agreement resulted from bilateral trade discussions.
Source: Reuters