Korean Air to buy up to 50 Boeing planes for 30 tln won

Korean Air Co. said Monday that it has signed a memorandum of understanding with Boeing to buy up to 50 airplanes, including 20 777-9s, in a bid to upgrade its fleet.

Under the deal valued at roughly 30 trillion won (US$21.6 billion), Korean Air, the country’s largest flag carrier, will buy 30 787-10s and has an option to buy 10 more of the largest 787 Dreamliner variant.

The two models, which are long-haul and mid-sized airplanes, are considered to be the most fuel-efficient and eco-friendly, Korean Air said.

Korean Air said the purchase will support its planned growth and renewal of its fleet in size, range and capacity to reach high-demand markets in Europe and North America, as well as popular regional routes in Asia.

“The addition of the Boeing 777-9 and 787-10 aircraft marks a significant milestone in our strategic objective to expand and upgrade our fleet,” Korean Air Chairman and CEO Walter Cho said. “This investment underscores our commitment to providing a best-in-class flying experience.”

The 777-9 can seat 426 passengers in a two-class configuration with a range of 13,500 kilometers and the 787-10 can carry up to 336 passengers with a range of 11,730 km, according to Boeing.

In April this year, Korean Air said it plans to sign a $13.7 billion deal with Airbus to buy 33 units of its latest A350 series aircraft.

The company said the deal, which includes 27 A350-1000s and six smaller-sized A350-900s, will be clinched to supplement its long-term fleet operations as it retires its older aircraft.

Korean Air said earlier it will introduce 203 new airplanes by 2034.