Korean Air Signs Historic Order for 103 Boeing Aircraft Worth $50 Billion
Korean Air announced on Tuesday, August 26, the signing of a historic contract to acquire 103 aircraft from Boeing, valued at approximately $50 billion. This marks the largest deal in the history of Korean aviation. The announcement came just hours after South Korean President Lee Jae-myung met with U.S. President Donald Trump in Washington.
The order includes 20 Boeing 777 aircraft, 25 Boeing 787s, and 50 Boeing 737s, along with 8 Boeing 777 freighters, with deliveries set to continue until the end of 2030.
The agreement was formalized on Monday in the U.S. capital during a roundtable led by U.S. Commerce Secretary Howard Lutnick, with representatives from the South Korean Ministry of Trade, Industry, and Energy present.
This deal is part of ongoing bilateral trade negotiations, which resulted in an agreement to reduce U.S. tariffs on Korean products to 15%, down from the previously set 25%. In July, President Trump revealed anticipated South Korean investments in the United States totaling $350 billion.
This substantial order represents a strategic boost for Boeing, which is experiencing a critical period due to financial and production challenges, worsened by the June crash of a Boeing 787 operated by Air India in Ahmedabad, India, which resulted in 260 fatalities. Despite inspections by various civil aviation authorities, including those in India and Singapore, no new faults have been reported for this model.
It is noteworthy that Korean Air previously confirmed in March its purchase of 50 Boeing aircraft valued at $32 billion.
