Thursday, September 19, 2024

Wow: Korean Air Orders Boeing 777Xs, More 787s

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Korean Air is on quite the wide body aircraft shopping spree. The airline recently placed an order for 33 Airbus A350s, and has now placed an order for two of Boeing’s wide body aircraft variants…

Korean Air orders up to 50 Boeing wide body jets

Korean Air has just placed an order for up to 50 Boeing jets. This order is comprised of the following:

  • Korean Air has placed a firm order for 20 Boeing 777-9s; the 777-9 is the larger variant of the new Boeing 777X, which is expected to be certified in 2025, and will be the largest passenger plane in production in the future
  • Korean Air has placed a firm order for 20 Boeing 787-10s, with options for an additional 10 of these jets; the 787-10 is the highest capacity and shortest range version of the popular 787 Dreamliner family of aircraft

Deliveries of these planes are expected to start in 2028, so we’re still a ways off from them joining the carrier’s fleet. This is the first time that Korean Air has ordered the 777-9, while it’s a top-up order of the 787-10, as Korean Air already has 20 of those planes on order, and the first is about to enter service (with the carrier’s new business class).

Another 777X order is big news for Boeing, as the aircraft manufacturer hasn’t seen much interest for its new largest jets in recent years, given all the issues. Ethiopian Airlines recently placed an order for some 777Xs, but that’s about it.

Korean Air is in the process of trying to acquire Asiana, to create a South Korean mega carrier. The company hopes that this deal will be finalized by the end of 2024, as the regulatory approval process has been much more drawn out than expected. This latest aircraft order is being placed as part of a fleet restructuring plan, in hopes of allowing the combined airline to streamline its fleet and grow in the future.

Korean Air has ordered up to 50 Boeing aircraft

How these Boeing planes fit into Korean Air’s fleet

Korean Air and Asiana are both kind of all over the place when it comes to their wide body fleets:

  • Asiana flies the A330-200, A330-300, A350-900, A380, 747-400, 767-300, and 777-200ER, and also has the A350-1000 on order
  • Korean Air flies the A330-200, A330-300, A380, 747-8, 777-200, 777-300, 777-300ER, and 787-9, and is about to start flying the 787-10

As you can see, both carriers have quite the varied fleet. As the airlines combine, we know the goal is to modernize the fleet. Executives have also talked about the importance of simplifying the fleet, though I’m not sure to what extent that’s really happening here, especially with the airline ordering both the A350-1000 and 777-9.

Here’s how I see this playing out way in the future (we’re talking the early 2030s):

  • The 777-9 will eventually become Korean Air’s flagship ultra long haul aircraft, replacing planes like the A380 and 747-8
  • The A350-1000 will become the secondary ultra long haul aircraft, replacing many routes currently operated by the 777-300ER
  • The 787-10 will largely be used for high demand regional routes, plus for medium and long haul routes with slightly lower demand (but not for ultra long haul flights)

It seems that the recent orders for all these jets are largely intended to replace 777s. Asiana’s 777s are an average of over 16 years old, while Korean Air’s 777s are an average of over 12 years old.

However, there’s quite a bit of difference in age when it comes to variants in Korean Air’s fleet — 777-200s are an average of nearly 19 years old, 777-300s are an average of nearly 25 years old, and 777-300ERs are an average of under 10 years old. So that’s why I believe the 787-10s are intended to replace many of the regional 777s.

Korean Air has also ordered the Airbus A350

Bottom line

Korean Air has placed an order for up to 50 Boeing aircraft. This includes a firm order for 20 777-9s, plus a firm order for 20 787-10s, with an additional 10 options. These planes will be delivered starting in 2028.

When you combine this with Korean Air’s recent Airbus A350 order, the airline has quite the wide body order book. I’m curious to see how Korean Air ends up configuring all these jets.

What do you make of Korean Air’s Boeing 777-9 and 787-10 order?

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