Key Takeaways
- Boeing and Korean Air said the carrier would be purchasing up to 50 Boeing wide-body planes.
- The agreement calls for Korean Air to receive 20 777Xs and 20 787 Dreamliners, with an option to buy 10 more Dreamliners.
- Boeing has struggled this year as questions have been raised about its quality control procedures.
Boeing (BA) and Korean Air announced Monday that the carrier would be buying as many as 50 of the plane maker’s wide-body jetliners.
Korean Air will purchase 20 777Xs and 20 787-10 Dreamliners, with an option to add another 10 of the largest Dreamliner model, the two companies announced at the Farnborough Airshow outside London.
Korean Air CEO Walter Cho called the move “a significant milestone in our strategic objective to expand and upgrade our fleet.”
The launch of the 777X, Boeing’s largest commercial aircraft, has been delayed, with the plane yet to be certified for flying. However, Cho reportedly said at the airshow that the airline expects delivery later this decade, adding that if he wasn’t assured they’d be available, he wouldn’t have ordered them.
Stephanie Pope, president and CEO of Boeing Commercial Airplanes, noted that Korean Air has had a 50-year relationship with Boeing, and “the 777X and 787 Dreamliner will continue to support the airline’s long-term goals for sustainability and continued growth.”
Shares of Boeing were down less than 1% in early-afternoon trading Monday. The stock has lost about a quarter of its value in 2024 as the manufacturer faced a series of questions about its quality controls, including those raised after the blowout of a door plug in an Alaska Airlines flight in January.
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