Korean Air Finalized the Order of 25 Boeing airplanes.

Photo Credit: Boeing Company

Boeing News: SEATTLE, Dec. 29, 2006 : The Boeing Company [NYSE: BA] and Korean Air today announced that the two companies have finalized an order for 25 airplanes with a value of approximately $5.6 billion at list prices.

Korean Air's order includes 10 777-300ERs, five 747-8 Freighters, five 777 Freighters and five Next-Generation 737s, along with options for eight additional airplanes -- four 777-300ERs, two 747-8Fs and two 737-900ERs.

The 777-300ERs will replace 747-400 passenger airplanes that Korean Air is converting to 747-400 Boeing Converted Freighters (BCF), while the 747-8 Freighters and 777 Freighters will provide expansion capacity that will further solidify the airline's position as the world's leading commercial air cargo carrier that it has held during the past two years. Korean Air is a key 747-400 Freighter operator and an important customer of the 747-400 BCF.

The 737s will provide additional capability for domestic and regional routes to neighboring countries.

"Introducing the next generation high-tech airplane is one of the strategies to effect a strengthening of global competitiveness, and enhance customer service," said Korean Air Chairman Yang-ho Cho, "We are planning to provide a 'high-end' service to our customers by continually introducing high-tech airplanes."

"Korean Air continues to develop a tremendous cargo base to complement its successful passenger operation," said Boeing Commercial Airplanes Vice President of Sales Larry Dickenson. "Our great relationship is built upon years of success and trust, as well as our ability to provide the airplanes that fit the airline's business model."

In 2004, Korean Air and Boeing celebrated the airline's 100th Boeing jetliner delivery. Since receiving its first 707 in 1971, Korean Air has operated several Boeing models, including the Next-Generation 737, 747, 777, DC-9, DC-10, MD-11, and MD-80.

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The Boeing 747-8 is the latest variant of the Boeing 747, officially announced on November 14, 2005 to filled the gap between the 747-400ER and the Airbus A380. Prior to the formal 2005 announcement, it was known publicly as the 747 Advanced.

The Boeing 777 is a family of long-range wide-body twin-engine airliners built by Boeing's Commercial Airplanes division. It carries between 278 and 550 passengers and has a range from 5,210 to 9,420 nautical miles (10,370 to 17,445 km). Distinguishing features of the 777 include the set of six wheels on each main landing gear, its perfectly circular fuselage cross section, the pronounced "neck" aft of the cockpit, and the blade-like rear tailcone.

The 737 is now so widely used that at any given time, there are over 1,250 airborne worldwide. On average, one takes off or lands every five seconds.

Back in April 11, 2005, Korean Air purchased 10 firm orders and options for 10 additional 787s. Delivery of the 787-8 airplanes will begin in 2009 and extend through 2013. The 787 will use 20 percent less fuel than today's airplanes of comparable size and will provide operators with up to 45 percent more cargo revenue capacity.

Korean Air (KSE: 003490) is the largest airline based in South Korea. One of the largest airlines in Asia, it operates a network that links Europe, Africa, Asia, Australia, North America, and (formerly to) South America to its hub at Incheon International Airport and its domestic hub at Gimpo International Airport (formerly Kimpo International Airport). Korean Air received the "Phoenix Award" from Air Transport World (ATW) for its success in overcoming challenges in the global airline industry in 2005.

Since 2000, The Boeing Company was The sencond largest Airplane Manufacturing Company, but, looks like The Boeing Company will likely The World Largest Airplane Manufacturing Company this year unless Airbus shows the unlisted order shows more than 400 firm orders in December......

Congratulations, Korean Air and The Boeing Company !!!

Reported by Sandra Englund, December 30th, 2006

References:

http://www.boeing.com/news/releases/2006/q4/061229a_nr.html

http://seattlepi.nwsource.com/business/297824_bizbriefs30.html

http://en.wikipedia.org/wiki/Main_Page