Huge Boeing Order Confirmed

Boeing has confirmed a sizeable new commercial aircraft order, further strengthening its backlog.

The record-breaking deal will see Korean Air purchase 103 Boeing jets spread across passenger and freighter aircraft in a bid to modernise its day-to-day operation.

Once finalised, the deal will be historic for more ways than one, thanks to the freighter purchase and also being the largest ever order from Korean Air, while being Boeing’s largest widebody order from an Asian carrier.

Included in the deal will be 20 of the 777-9s, part of the 777X, with this passenger aircraft deal to be complemented by a purchase of eight next-generation 777-8 Freighters as well.

Meanwhile, the 787 program will once more get further love as Korean Air buys 25 more of this type, and lastly, the bulk load of the deal will include 50 of the 737-10s.

The 737-10 is the high-capacity model of the 737 MAX series, and while it remains uncertified at this stage, it is mounting a case to be a core part of many airlines’ fleets moving forward with the absence of a middle-of-the-market jet.

This agreement with our long-standing partners, Boeing and GE, marks a pivotal moment for Korean Air. Acquiring these next-generation aircraft is the core of our fleet modernization strategy, delivering significant gains in fuel efficiency and enhancing the passenger experience across our global network. This investment is also a critical enabler for our future as a merged airline with Asiana, to ensure that our combined carrier is one of the most competitive airlines in the industry.

Walter Cho, chairman and CEO of Korean Air.

Overall, the latest deal now also beefs up the commitment for Boeing aircraft held by Korean Air past 150 total units, following an incremental deal in March for 20 of the 777-9s and 20 787-10s.

Boeing says it’s honoured to be in a position where it can strengthen its partnership with Korean Air, especially as the business transitions towards a larger and unified carrier.

That unification is being driven by the airlines’ acquisition of fellow Korean company Asiana Airlines, bringing together two large fleets and creating a genuine mega airline.

As a result, there continues to be a need for new aircraft purchases such as this one to help the business transition towards the next generation of aircraft while meeting demand and ensuring greater levels of simplification to benefit finances.

How Boeing Will Support Korean Air

Boeing will now, thanks to this and previous deals, play an integral role in building the future of Korean Air as it transitions its business towards the next generation of aircraft.

Currently, one of the biggest considerations is the airline’s plan consolidation efforts with Asiana Airlines after receiving the neccesary approval for this to take the next step towards completion.

The deal will see shifts across the South Korean industry, particularly in Asia, as mainline and low-cost divisions change to reflect the merger.

However, as part of that, there’s a strong requirement for greater fleet harmony, for after all, bringing together two large airlines’ existing fleets is no easy task, especially in an era where most airlines are saying farewell to their older jets.

Boeing will now play a role in helping the two businesses come together and transition towards these newer planes. The deals also follow a purchase for the A350 by Korean Air, as well. The A350 is already part of the Asiana Airlines operation and is intended to stay.

Both airlines fly the Airbus A380, the world’s largest passenger plane, which is vital for high-capacity markets, but is also likely to be phased out of the fleet in the long term.

As a result, with this and Boeing 747-8s present moving into the 2030s, Korean Air needs to begin planning for life without these aircraft, and as a result, deals for types such as the 777-9 will be essential.