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.

Korean Air is in the process of acquiring Asiana Airlines Inc., a smaller local rival, and it has so far obtained approval from 13 countries and regions for the acquisition, with the final one yet to come from the United States to complete the merger plan.