2024-07-22 18:19:10
Chairman Cho Won-tae signs 11 trillion won contract at 2019 Paris Air Show
The largest aircraft deal ever at the UK Air Show
20 400-seat B777-9s and up to 30 325-seat B787-10s
Chairman Cho Won-tae, aircraft deal stage at major European air shows
“Completion of 203 eco-friendly airfields by 2034”
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Korean Air, the first domestic airline to introduce the next-generation Boeing 787-10 aircraft, is further accelerating the modernization of its fleet. Chairman Cho Won-tae of Hanjin Group has made a large-scale investment at an overseas air show again, five years after his previous investment in 2019. In 2019, Chairman Cho visited the Paris Air Show and signed an 11 trillion won aircraft purchase contract, and this time he flew to the UK Air Show to purchase a larger number of aircraft than five years ago. Chairman Cho’s ‘air show deal’ management, which utilizes major overseas air shows as a stage for aircraft transactions, is impressive.
On the 22nd, Korean Air signed a memorandum of understanding (MOU) with American aircraft manufacturer Boeing for the purchase of a total of 50 next-generation aircraft at the Farnborough International Airshow in Hampshire, England. It was decided to purchase 20 of the latest mid- to large-sized aircraft, the B777-9, and 30 B787-10s (including 10 optional aircraft).
The signing ceremony was attended by key figures including Hanjin Group Chairman Cho Won-tae and Boeing Commercial Airplanes President Stephanie Pope. In particular, on this day, Korean Air became the first domestic airline to introduce a B787-10 from Boeing, which was a previous contract (2019 Paris Air Show deal). The introduction of the first next-generation aircraft and the new contract were made almost simultaneously.
This contract is evaluated as the largest aircraft purchase project in Korean Air’s history. The industry estimates that if the purchase of the corresponding quantity of aircraft is confirmed, the total amount will reach 30 trillion won. The existing contract for 33 A350s with Airbus is known to be worth about 18 trillion won.
The B777-9 and B787-10 that Korean Air is pushing to introduce are aircraft capable of long-distance flights to the Americas and Europe. They are expected to play a central role in the fleet after the integration of Asiana Airlines.
The B777-9 is said to be the most stable and efficient aircraft among the B777 series aircraft. It is reported that the wings made of carbon composite materials are longer than those of the existing B777 series aircraft, improving fuel efficiency by more than 10%. The flight distance is over 13,000 km, allowing direct flights from Incheon Airport to all regions of the United States. The B777-9 also has the longest fuselage among the B777 series aircraft. With a seating capacity of 400 to 420, it is the second largest aircraft after the Airbus A380 (407 seats). As part of improving fleet operation efficiency, the B777-9 is expected to replace the Boeing B747-8i (368 seats) in the future.
The B787-10, which joined the Korean Air fleet on this day, is the largest aircraft among the B787 series aircraft, and is approximately 5m longer than the B787-9 that joined first, and can transport 15% more passengers and cargo. The B787 series aircraft is evaluated as a next-generation passenger aircraft and is called the ‘Dreamliner’. The B787-10 can be seen as the flagship aircraft of the Dreamliner. The proportion of carbon composite materials used in major fuselage parts has been significantly increased to approximately 50% compared to the B777 series (approximately 12%), reducing weight and improving fuel efficiency. It is said that fuel efficiency has been improved by more than 25% compared to the B777-200. In general, the B777 series aircraft are known to use 6,000 to 7,500 liters of fuel per hour, and the B787 series is known to consume 4,900 to 5,600 liters of fuel.
“The introduction of the next-generation Boeing aircraft will be an important milestone in achieving Korean Air’s strategic goals of expanding its fleet and upgrading customer convenience,” said Cho Won-tae, Chairman of Hanjin Group. “We expect that the aircraft purchase contract will contribute to our long-term efforts for sustainable management by significantly reducing carbon emissions while improving passenger convenience and operational efficiency.”
In addition to the MOU for the purchase of Boeing aircraft (20 B777-9s and 30 B787-10s), Korean Air is also pushing forward with the introduction of 33 Airbus A350 series aircraft and 50 A321neo aircraft. The plan is to expand the advanced eco-friendly aircraft fleet to a total of 203 aircraft by 2034.
Kim Min-beom, Donga.com reporter [email protected]
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2024-07-22 18:19:10