Korean Air Poised to Modernize Aircraft Fleet with 20 Airbus A350s
Korean Air, the flagship carrier of South Korea, is reportedly on the verge of placing an order for 20 Airbus A350 jets, with an official announcement anticipated to occur as early as this week, according to Bloomberg. This move is part of the airline’s ambitious fleet modernization strategy, particularly as it prepares for its impending merger with Asiana Airlines, pending approval from the United States.
Walter Cho, CEO of Korean Air, emphasized the goal of fleet simplification post-merger to achieve more efficient operational costs. The integration with Asiana Airlines will introduce a diversified array of Airbus and Boeing aircraft equipped with various engine types to the fleet, presenting unique operational challenges. In response, Cho highlighted plans to streamline the fleet for better efficiency in an interview with the International Air Transport Association (IATA).
This upcoming acquisition marks a significant development for Korean Air, representing its most substantial widebody aircraft investment since 2019. The airline aims to phase out its aging Boeing 777 fleet, some of which have been in service for over two decades. In addition, following the recent addition of its 10th Airbus A321neo on March 12, Korean Air has committed to 20 more A321neo jets, with expectations to receive a total of 50 Airbus A321neos.
Korean Air’s Current Widebody Fleet
23 Airbus A330, average age: 18.1 years, oldest: 18 A330-300s (19.3 years)
44 Boeing 777, average age: 12.3 years, oldest: 8 777-200ER (18.8 years) and 4 777-300 (24.8 years)
While Korean Air has expressed interest in the Boeing 777X for its future fleet, the airline has decided to pause Boeing orders until the 777X achieves certification, currently anticipated for 2025. This strategic decision underscores Korean Air’s commitment to modernizing its fleet with more efficient and newer aircraft models, positioning itself for competitive advantage and operational efficiency in the post-merger landscape.
Related news: https://airguide.info/?s=Korean+Air
Sources: AirGuide Business airguide.info, bing.com, bloomberg.com