Korean Air Finalizes $44.8 Billion Boeing Aircraft and Engine Agreements

Korean Air has finalized agreements valued at about 60 trillion won, or $44.8 billion, to buy 103 Boeing aircraft and secure engines and maintenance services from GE Aerospace and CFM International. The package gives South Korea’s largest airline a long-term fleet introduction plan as it prepares to integrate operations with Asiana Airlines.

The agreements were completed at a signing ceremony in Seoul on Tuesday attended by company executives and government officials from South Korea and the United States. They bring to completion a procurement plan that Korean Air announced in Washington in August 2025.

The aircraft portion is worth $36.2 billion and spans four Boeing models. Korean Air agreed to purchase 20 777-9 passenger jets, 25 787-10 aircraft, 50 737-10 narrow-body jets and eight 777-8F freighters. The mix covers long-haul passenger operations, shorter routes and dedicated cargo service, giving the carrier flexibility across several parts of its network.

Korean Air also finalized about $8.6 billion in agreements with GE Aerospace and CFM International. Those contracts cover 21 spare engines as well as 15 years of engine maintenance services for 28 aircraft. The maintenance component adds long-term operational support to the aircraft acquisition rather than limiting the transaction to new planes alone.

Walter Cho, Korean Air’s chief executive and the chairman of Hanjin Group, described completion of the agreements as both a business milestone and an expression of trust between South Korea and the United States. The ceremony included Boeing Commercial Airplanes President and CEO Stephanie Pope, U.S. Ambassador to South Korea Michelle Steel and South Korean Industry Minister Kim Jung-kwan.

The scale and composition of the order underline Korean Air’s preparations for growth after its planned integration with Asiana Airlines in December. Korean Air said the investment is intended to secure a stable schedule for introducing aircraft over the long term while supporting additional capacity after the integration.

For Boeing and the two engine suppliers, the completed agreements lock in a major order from a leading Asian carrier. For Korean Air, the purchase establishes a broad pipeline of passenger and cargo aircraft, spare engines and maintenance coverage as the company moves toward a larger combined operation.