Korean Air's plan to introduce 103 next-generation Boeing aircraft has gained momentum. The airline said on the 6th that it had successfully issued 20 billion yen, or about 190 billion won, in samurai bonds guaranteed by The Export-Import Bank of Korea (KEXIM). Samurai bonds are yen-denominated bonds issued in Japan by foreign companies or institutions. The strong reception reflected positive assessments of the airline's stable profitability, supported by a balanced passenger and cargo portfolio, as well as expectations for operating synergies from its integration with Asiana Airlines and the potential to expand its global network.
Korean Air has also secured separate large-scale policy-finance support for its next-generation aircraft introduction. In line with the airline's plan to expand its new fleet, KEXIM Bank will provide a total of 700 billion won in financing, including 300 billion won in export finance and 400 billion won from the Supply Chain Stabilization Fund. The fund is a policy-finance program created to respond to global supply chain restructuring and support the stable operation of key industries tied directly to national economic security.
The policy-finance support is expected to further accelerate the fleet modernization drive. Korean Air said last year that it planned to invest a total of $36.2 billion to add 103 high-efficiency aircraft from Boeing. The planned deliveries include 20 Boeing 777-9s, 25 Boeing 787-10s, 50 Boeing 737-10s, and eight Boeing 777-8F freighters. They will be delivered gradually through the late 2030s.
A Korean Air official said, "The successful issuance of the samurai bond is a meaningful achievement that confirms global investors' confidence in Korean Air's stable business competitiveness and future growth potential." The official added, "Through the introduction of next-generation aircraft and fleet modernization, we will further improve customer service and operational efficiency, and move forward as the world's most beloved airline."
Kim Se-hyung fax123@sportschosun.com
