Korean Air, South Korea’s largest carrier, said Thursday it signed a contract to buy five A380 superjumbos from Airbus and for options on three more jets.
The deal would be worth around USD$2.2 billion at list prices if all eight aircraft are purchased, although jet manufacturers routinely offer hefty discounts.
Korean Air had signed a memorandum of understanding with Airbus in June to purchase the planes.
The company said in a public notice to the Korea Stock Exchange the 550-seater two deck aircraft would be delivered between late 2007 and 2009. The A380 would initially be used on high density traffic routes between Seoul and the US West Coast, it added.
“Our decision to purchase the A380 aircraft meets our strategy to reinforce Incheon International Airport as the strongest hub in Northeast Asia,” said Yang Ho Cho, Korean Air chairman and chief executive.
The A380 is due to begin flying with airlines in 2006.
Korean Air’s confirmation means that Airbus now has 121 firm orders and eight commitments for the A380
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October 24, 2003 at 3:12 pm