Korean Air to buy more than 100 Boeing Jets!
Seoul, Aug 26 (EFE).-
Korean Air has agreed to buy more than 100 Boeing aircraft in a package worth $50 billion, the companies announced Monday.
The announcement came hours after a meeting between South Korean President Lee Jae-Myung and US President Donald Trump, at the White House in Washington, DC.
The largest deal in Korean Air’s history includes the acquisition of twenty 777-9 aircraft, twenty five 787-10 aircraft, fifty 737-10 aircraft, and eight 777-8 freighters valued at $36.2 billion, in a phased delivery through to the end of 2030, according to a statement from both companies.
The airline will also spend $690 million on 19 spare engines from GE Aerospace and CFM International, and $13 billion on a 20-year maintenance service contract with GE Aerospace, a move aimed at strengthening the safety, operational efficiency, and sustainability of its fleet.
“This deal is a strategic choice to strengthen Korean Air’s partnership with the US aviation industry. Korean Air currently collaborates closely with a broad range of U.S.-based aviation companies, including Pratt & Whitney, General Electric (GE), Hamilton Sundstrand and Honeywell,” the airline said in a statement.
The agreement was signed on Monday at the Willard Hotel in the US capital during a business roundtable presided over by US Secretary of Commerce Howard Lutnick and South Korea’s Minister of Trade, Industry and Energy Kim Jung-kwan, underscoring the political and economic significance. It comes amid pressure from the Trump administration on its allies to invest more in US companies.
EFE rvb/tw
