Korean Air has announced the purchase of 25 Boeing airplanes.

Photo Credit: Boeing Company

SEATTLE, Nov. 20, 2006: The Boeing Company [NYSE: BA] is pleased that Korean Air has announced the purchase of 25 Boeing airplanes. The airline announced that it is purchasing 10 777-300ERs, five 747-8 Freighters, five 777 Freighters and five Next-Generation 737s, at a list value of approximately $5.5 billion

This is the largest commercial airplane commitment in Korean history.

"Korean Air is a world-class airline, and we value our long relationship with this important customer," said Larry Dickenson, Boeing Commercial Airplanes vice president of Sales. "Korean Air is buying the world's most fuel-efficient, technologically advanced aircraft to meet their requirements, and we look forward to continuing our strong working relationship. We are proud to produce the airplanes that play a key role in Korean Air's plans for growth and leadership."

Korean Air, also the number one commercial cargo carrier for the past two consecutive years, continues to aggressively expand its cargo services. Korean Air is a key 747 Freighter operator and participant in the 747-400 Boeing Converted Freighter program.

Korean Air is a member of the 787 Dreamliner launch team and, in 2004, the airline celebrated its 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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According to Seattle pi.com, Korean Air plans to buy 25 passenger jets and freighters worth about $5.3 billion at list price. The order, expected to be firmed up within a couple of weeks, includes Boeing's 777 and 747-8 freighters that are still in development.

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.

Congratulations, Korean Air!!

Reported by Sandra Englund, November 21st, 2006

References:

http://www.boeing.com/news/releases/2006/q4/061120d_nr.html

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

http://seattlepi.nwsource.com/business/293086_boeingkorea21.html