South Korea’s Korean Air Secures Record Fleet Growth Plan With 103 Boeing Aircraft And Engine Agreements

Korean Air has completed a landmark USD 44.8 billion (KRW 60 trillion) aircraft and engine procurement agreement, finalising the large-scale fleet expansion plan first announced in Washington D.C. in August 2025.

The agreement covers the purchase of 103 Boeing aircraft valued at approximately USD 36.2 billion. In addition, Korean Air has signed separate contracts worth around USD 8.6 billion with GE Aerospace and CFM International for 21 spare engines along with a comprehensive 15-year engine maintenance programme.

A formal signing ceremony was held on September 15 at the Conrad Seoul hotel, bringing together senior executives from the aviation sector. The event was attended by Walter Cho, Chairman and CEO of Korean Air and Hanjin Group; Stephanie Pope, President and CEO of Boeing Commercial Airplanes; Gaël Méheust, President and CEO of CFM International; and Youngje Kim, President of GE Aerospace Korea.

The ceremony also welcomed government officials and business leaders from South Korea and the United States, including Michelle Steel, U.S. Ambassador to the Republic of Korea; James Kim, Chairman and CEO of AMCHAM Korea; Jungkwan Kim, Minister of Trade, Industry and Resources; and Ki-yeon Hwang, President of the Export-Import Bank of Korea.

“Bringing our Washington agreements to the finish line today is a proud moment for Korean Air,” said Walter Cho, Chairman and CEO of Korean Air and Hanjin Group. “This is much more than a business deal. It is a testament to the trust and the unbreakable alliance between our two countries.”

Cho added, “While Boeing provides our wings, GE gives us the heartbeat of our fleet. This historic investment guarantees the reliability and efficiency our customers expect, allowing us to keep connecting people and businesses between our two economies.”

The aircraft acquisition programme includes 20 Boeing 777-9 aircraft, 25 Boeing 787-10s, 50 Boeing 737-10 jets and eight Boeing 777-8F cargo aircraft. Alongside the fleet order, the airline has secured engine support agreements covering 21 spare engines supplied by GE Aerospace and CFM International, as well as a 15-year maintenance agreement supporting 28 aircraft.

This major investment establishes a structured and reliable fleet expansion roadmap as the airline prepares for future growth following the integration of Asiana Airlines. The introduction of advanced next-generation aircraft will enhance operational efficiency, reduce fuel consumption across the fleet and contribute towards the carrier’s long-term carbon reduction objectives.

“Finalizing our Washington MOU was made possible by the trust and support of both governments, our financial institutions, and our partners,” said a Korean Air spokesperson. “We will leverage this fleet modernization to strengthen our competitive edge and continue driving economic exchange between Korea and the United States.”