Boeing Customer

Hanjin Group Chairman Cho Yang-ho (2nd from left) and Boeing Commercial Airplanes CEO Ray Conner (3rd from left) pose together after signing an MOU for the purchase of 50 B737MAX-8 aircraft.
Hanjin Group Chairman Cho Yang-ho (2nd from left) and Boeing Commercial Airplanes CEO Ray Conner (3rd from left) pose together after signing an MOU for the purchase of 50 B737MAX-8 aircraft.

 

Korean Air has decided to introduce the largest-ever number of aircraft for a domestic carrier, gaining a foothold for a new leap, along with the 50th anniversary of its establishment in 2019.

Attended by Chairman Cho Yang-ho of the Hanjin Group, the parent group of Korean Air, Hanjin KAL Executive Vice President Cho Won-tae, Boeing Commercial Airplanes CEO Ray Conner, and Airbus CEO Fabrice Bregier, Korean Air signed a memorandum of understanding (MOU) at the Paris Air Show for the purchase of a total of 100 next-gen aircraft on June 16 (local time). The company also signed an MOU with Pratt & Whitney for the PW1100G-JM engines that will be installed in the new Airbus planes.

Under the MOUs, Korean Air will buy a total of 100 next-gen aircraft – 50 B737MAX-8 aircraft (30 confirmed and 20 optional purchases) from Boeing and 50 A321NEO aircraft (30 confirmed and 20 optional purchases) from Airbus. Also, the carrier decided to buy two more B777-300ER planes.

This is the first time for a Korean carrier to buy such a large number of aircraft at one time. Korean Air will spend about US$12.23 billion (13 trillion won) on the deals based on its market prices. Also, the aircraft will be introduced gradually from 2019 to 2025. Some of them will replace the carrier's old B737NG planes, while the rest will cope with growing demand.

The B737MAX-8 is a next-gen environmentally-friendly aircraft that maximizes efficiency, reliability, and operational ability with advanced technology such as the newest CFM International LEAP-1B engine and winglets, which can cut down fuel costs by 1.8 percent compared to existing wings. Accordingly, it helps carriers save fuel costs by more than 20 percent and operational costs per seat by 8 percent.

With the latest engine and technology, the A321NEO is another next-gen eco-friendly aircraft that consumes 15 percent less fuel than older, similar-sized aircraft and emits less carbon. The maintenance cost is also lower.

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