LearX
20th Jun 2003, 07:10
Korean Air signed memoranda of understanding with Airbus and Boeing to purchase a total of 17 planes, the South Korean air carrier said in a statement Wednesday.
The deal comprises eight A380 from Airbus, and seven B777 and two B747-400ERF from Boeing.
If all contracts are inked on final agreement, the new aircraft purchase would total $2.3 billion, said Hyoung Woo Lee, a Korean Air spokesman.
Lee said the breakdown of the purchase prices for each plane maker isn't available.
"Our new fleet investments are in line with the Korean government's plans to make Seoul the logistics hub of Northeast Asia," said Korean Air.
It is also a part of the company's long-term strategy to modernize the fleet. The average age of Korean Air's fleet is 6.4 years.
"We are proactively utilizing our negotiating power to strategically invest for the future market needs for mass transportation despite the recent slump experienced by the aircraft manufacturing industry," the airline said.
Deliveries of the 555-seater Airbus A380 are scheduled to begin in late 2007. Of the eight A380s in the preliminary agreement, five are fixed orders and three are options, Korean Air said.
The A380 is a fuel-efficient super-jumbo jet being developed by Airbus and will be unveiled in 2006.
"Introduction of the A380 into the fleet will strengthen our competitive edge by lowering operating costs. It will also enable us to compete effectively on long-haul routes such as trans-Pacific flights," Korean Air said.
The Boeing 777s are scheduled to be delivered starting in 2004 and will gradually replace the B747-400 currently in service. The B744-ERF is capable of operating non-stop on long-distance flights, which will enhance service and improve aircraft utilization.
"The purchase of new aircraft is a part of our long-term corporate plan to become the No. 1 cargo carrier in the world," Korean Air said.
The airline has a fleet of 115 planes and operates almost 400 passenger flights a day to 84 cities in 29 countries.
Korean Air is part of the SkyTeam, a global airline alliance partnering it with AeroMexico, Air France, Alitalia CSA, Czech Airlines, and Delta Air Lines.
The deal comprises eight A380 from Airbus, and seven B777 and two B747-400ERF from Boeing.
If all contracts are inked on final agreement, the new aircraft purchase would total $2.3 billion, said Hyoung Woo Lee, a Korean Air spokesman.
Lee said the breakdown of the purchase prices for each plane maker isn't available.
"Our new fleet investments are in line with the Korean government's plans to make Seoul the logistics hub of Northeast Asia," said Korean Air.
It is also a part of the company's long-term strategy to modernize the fleet. The average age of Korean Air's fleet is 6.4 years.
"We are proactively utilizing our negotiating power to strategically invest for the future market needs for mass transportation despite the recent slump experienced by the aircraft manufacturing industry," the airline said.
Deliveries of the 555-seater Airbus A380 are scheduled to begin in late 2007. Of the eight A380s in the preliminary agreement, five are fixed orders and three are options, Korean Air said.
The A380 is a fuel-efficient super-jumbo jet being developed by Airbus and will be unveiled in 2006.
"Introduction of the A380 into the fleet will strengthen our competitive edge by lowering operating costs. It will also enable us to compete effectively on long-haul routes such as trans-Pacific flights," Korean Air said.
The Boeing 777s are scheduled to be delivered starting in 2004 and will gradually replace the B747-400 currently in service. The B744-ERF is capable of operating non-stop on long-distance flights, which will enhance service and improve aircraft utilization.
"The purchase of new aircraft is a part of our long-term corporate plan to become the No. 1 cargo carrier in the world," Korean Air said.
The airline has a fleet of 115 planes and operates almost 400 passenger flights a day to 84 cities in 29 countries.
Korean Air is part of the SkyTeam, a global airline alliance partnering it with AeroMexico, Air France, Alitalia CSA, Czech Airlines, and Delta Air Lines.