Korean Air finalizes $32 billion aircraft agreement with Boeing : GE

Korean Air has agreed to acquire up to 50 Boeing aircraft, the United States said Monday, as President Donald Trump wants to bolster American manufacturing.

Commerce Secretary Howard Lutnick conducted a signing ceremony last Friday for the $32 billion pact between Korean Air, US aviation giant Boeing, and GE Aerospace.

“The agreement covers Korean Air’s purchase of up to 50 widebody aircraft manufactured by Boeing using GE Aerospace engines,” the US Commerce Department said on Monday.

Last year, Korean Air confirmed an order for 40 Boeing 787 and 777X wide-body aircraft at Britain’s Farnborough Airshow, which is excellent news for the ailing US aviation giant.

The purchase at the time included an option for ten further 787 planes.

“President Trump and I are committed to ushering in a new era of American manufacturing,” Lutnick said in a statement Monday.

He went on to say that his agency “remains committed to supporting these endeavors that will fuel our nation’s economic resurgence.”

The statement comes as the Trump administration has imposed tariffs on nations and sectors of imports, threatening further taxes, in order to encourage domestic industry.

As of July 2024, the Seoul-based airline projected the first delivery under the agreement in 2028.

Boeing has faced manufacturing backlogs and safety issues.

In January of last year, a fuselage panel broke off of Alaska Airlines’ 737 MAX, forcing the jet to make an emergency landing.

Boeing did not immediately reply to a request for comment.