Korean Air to invest $1.6billion in new aircraft

Korean Air has announced that it will invest $1.6 billion in seven new aircraft from Boeing and Airbus. The new planes will become part of the Korean Air fleet between 2013-2015.

South Korea’s flagship carrier has placed a firm order to purchase two new Boeing B777-300ER and five Airbus A330 passenger planes.

“These latest orders for the A330 and B777 are part of our continuous fleet modernisation strategy,” said Yang Ho Cho, chairman and CEO of Korean Air. “Moving forward, the A330 and B777s will be key elements in our fleet, enabling us to offer comfortable and convenient service on a wide range of regional and international routes.”

The latest purchase agreement with Airbus increases the total number of A330s ordered by Korean Air to 30 aircraft, of which 23 have already been delivered.

Korean Air has placed a firm order with Boeing for 2 B777-300ER. The latest purchase increases the total number of B777s ordered to 13 aircraft, of which 28 already are in use by the airline.

Source: Korean Air