Korean Air Extends Boeing B737 MAX Wing Structure Supply Contract Until 2028

On the 26th, a Korean Air cargo plane carrying the initial shipment of Pfizer vaccines secured through the international vaccine supply organization 'COVAX facility' landed at the Incheon International Airport Cargo Terminal in Yeongjongdo. The shipment received that day consisted of a total of 58,500 doses, and these vaccines are scheduled to be delivered directly to five central and regional vaccination centers without passing through the logistics center in Pyeongtaek, Gyeonggi Province. Pfizer vaccine administration will begin the following day, on the 27th, at the Central Vaccination Center set up at the National Medical Center in Jung-gu, Seoul. / Yeongjongdo - Photo by Airport Press Corps

[Asia Economy Reporter Wondara] Korean Air announced on the 3rd that it has signed a follow-up contract to receive additional wing structures for Boeing's B737 MAX aircraft from 2022 to 2028. Previously, in 2016, Korean Air had signed a contract with Boeing to supply wing structures for the B737 MAX aircraft until 2021.

The company stated regarding the contract amount, "Since the number of deliveries changes depending on the sales situation of the model, the contract amount cannot be finalized," and added, "Based on the sales forecast data for the B737 MAX model from 2022 to 2028, the estimated contract amount is approximately USD 292 million (about KRW 326.2 billion, 2.6% of the previous fiscal year's sales revenue)."