Korean Air eyes on big deal with B777X Aircraft at Farnborough Airshow

Boeing is close to finalizing a significant deal to sell approximately two dozen 777X jets to Korean Air, with an estimated value ranging from $4 billion to $6 billion. As reported by Reuters.

Industry sources suggest that the agreement could be concluded as early as the Farnborough Airshow in July. Korean Air, South Korea’s largest airline, has been engaged in discussions about reverting to Boeing for its long-haul aircraft needs.

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This follows a surprising decision in March to order 33 A350 jets from Boeing’s European competitor, Airbus. Sources indicate that the potential order could involve between 20 and 30 of the 777X aircraft. These jets are priced at about $198 million each after standard market discounts, as per Cirium Ascend’s estimated delivery prices.

When approached, a spokesperson for the airline confirmed, “We are discussing with manufacturers but nothing has been confirmed yet.”

The move to review and potentially expand its fleet comes at a time when Korean Air is also focused on acquiring nearly two-thirds of its smaller domestic rival, Asiana Airlines, for approximately $1.4 billion.

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The European Union granted approval for this merger in February, and Korean Air anticipates U.S. regulatory approval by the end of October. Following Airbus‘ breakthrough with Korean Air, Reuters reported in April that Korean Air was considering a new Boeing order concentrated on the 777X, which is an advanced version of the 777 mini-jumbo.

If the deal proceeds, it would signify a strong return to Boeing for Korean Air and reinforce the airline’s long-haul capabilities with the latest in aviation technology.