Korean Air Announces Intent to Purchase 30 737 MAXs from Boeing

On June 16, 2015, Korean Air announced the airline’s intent to purchase 30 737 MAXs and two additional 777-300ER jetliners, with options for an additional 20 737 MAXs. At current list prices the agreement is valued at $3.9 billion. Once the order is finalized, the order will be posted to the Order & Deliveries website. The agreement reflects Korean Air’s commitment to its fleet modernization program.

With this commitment, the Korean flag carrier will increase the size of its unfilled orders with Boeing to 69 airplanes. Earlier this year the airline ordered five 777 Freighters increasing their total number of commitments with Boeing in the first six months of 2015 to 37 airplanes. 87 Boeing passenger airplanes are currently operated by Korean Air. Their fleet consists of 737, 747, and 777 airplanes. In addition, they operate an all-Boeing cargo fleet of 27 747-400,747-8 and 777 Freighters.

The 737 MAX utilizes the latest technology CFM International LEAP-1B engines. Other improvements like the Advanced Technology Winglets are used to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. Beginning in 2017, the new single-aisle airplane will deliver 20 percent lower fuel use than the first Next-Generation 737s and the lowest operating costs in its market. Estimated at 8 percent per seat less than is closest competitor. Part of the order included 2 777-300 Extended Range planes. They are the most fuel and cost-efficient airplane in its group with 99.5 percent reliability. It can carry 386 passengers in a typical three-class configuration up to 7,825 nautical miles.

With a fleet of 159 aircraft, Korean Air is one of the world’s top 20 airlines. They operate more than 430 flights per day to 129 cities in 46 countries. They are a founding member of the SkyTeam alliance, which consist of 20 members. Together, they offer 612 million annual passengers a worldwide system of more than 16,000 daily flights covering 1052 destinations in 177 countries.

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