[Courtesy of Boeing]
Under a deal announced at the Paris Air Show, Korean Air would add 30 new 787 Dreamliner airplanes to its fleet, with a commitment to purchase 10 new 787-10s and 10 additional 787-9s valued at $6.3 billion. The airline will also lease 10 787-10s from Air Lease Corporation (ALC). The total amount of money involved was estimated at 11.5 trillion won ($9.7 billion).
It marked the first major contract signed by Korean Air head Cho Won-Tae since he was officially designated as Hanjin Group chairman in May to succeed his father who died on April 8. The 43-year-old new chairman was in Paris to direct the purchase of new planes aimed at strengthening the competitiveness of Asia-Pacific routes.
"As we continue to innovate our product offering, the 787 Dreamliner family will become the backbone of our long-haul fleet for many years to come," Cho said in a statement published through Boeing's website. "In addition to 25 percent improved fuel efficiency, the stretched 787-10 offers around 15 percent more space for passengers and cargo than our 787-9s, which will be critical to our long-term business goals."
With a fleet of 168 aircraft, Korean Air serves 126 destinations in 44 countries worldwide. "Korean Air is a leading global airline and has become one of Asia's largest transpacific carriers," said Ihssane Mounir, senior vice president of Boeing's commercial sales and marketing.
The new chairman made his successful debut through the seamless hosting of the International Air Transport Association (IATA) in Seoul this month and expressed his willingness to make a bold reform in corporate structure with no drastic change in the guiding philosophy of his late father.
As the death of his father led to the group's third-generation transfer of leadership in a state of unpreparedness, Cho Won-tae, who joined the group in 2003 and became Korean Air's president in 2017, has a mountain of work to consolidate his group-wide control as Hanjin is under pressure to enhance its corporate governance and transparency in accounting and management.
reporter
Lim Chang-won
cwlim34@ajunews.com
