PARIS: Korean confirms intent to double 747-8I fleet

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Korean Air has signed a letter of intent to take five more Boeing 747-8 Intercontinentals and six more 777-300ERs.

The deal has a potential value of $3.6 billion at list prices. If firmed, it would bring a critical boost to the 747-8 programme, for which Boeing has struggled to attract orders from airlines. Indeed, orders for the freighter version have been lost in the past year, as the global air cargo market remains in steady decline. But Boeing continues to stand by the both variants, despite lowering monthly production to 1.75 aircraft, from two.

Star Alliance carrier Korean already has five passenger-carrying 747-8Is on backlog. It has taken delivery of three of the seven 747-8 Freighters it ordered.