Korean Air Formalizes $33 Billion Aircraft Deal with Boeing, GE

Korean Air is set to finalize a substantial $32.7 billion deal with Boeing for new aircraft and GE Aerospace for engines, including a firm order for 20 Boeing 777-9 and 20 Boeing 787-10 planes, with options for additional aircraft. This agreement is part of a broader strategy following its recent acquisition of Asiana Airlines, positioning Korean Air among the world's top ten carriers. Concurrently, the airline has signed a dry-lease agreement for one Airbus A330-200 to address operational shortfalls due to delays in new aircraft deliveries, marking a return to this aircraft model less than six months after its retirement. The A330-200, previously operated by China Southern Airlines, is expected to assist in meeting immediate operational needs until the new aircraft arrive. Korean Air's CEO acknowledged the airline is short on aircraft, necessitating the lease and extended service of older models. This dual approach highlights Korean Air's commitment to expanding its fleet while navigating current industry challenges.