Korean Air Lines said on the 6th that it secured the issuance of a Samurai bond guaranteed by The Export-Import Bank of Korea and large-scale policy finance support. Based on this, Korean Air Lines plans to accelerate the introduction of next-generation aircraft, achieve fleet modernization, and improve operational efficiency.
The Samurai bond Korean Air Lines successfully issued is worth 20 billion yen (about 190 billion won). Korean Air Lines said that succeeding in issuing a Samurai bond, a yen-denominated bond issued by foreign institutions or corporations in Japan's bond market, proves its strong credit quality and growth potential in global financial markets.
The company analyzed that although external uncertainties such as high oil prices and a strong dollar continue, Korean Air Lines is maintaining stable profitability, and expectations for synergy from its integration with Asiana Airlines and the possibility of expanding its route network drove investor demand.
Korean Air Lines also secured a total of 700 billion won in policy finance support from The Export-Import Bank of Korea, including 300 billion won in export finance and 400 billion won from the supply chain stabilization fund. The supply chain stabilization fund is a policy finance tool designed to respond to the reorganization of global supply chains and support the stable operation of key industries.
Korean Air Lines plans to add momentum to its fleet modernization drive with this policy finance support. Last year, Korean Air Lines announced a plan to invest a total of $36.2 billion (55.4294 trillion won) to add 103 high-efficiency aircraft from U.S. Boeing.
The models to be introduced are 20 Boeing 777-9s, 25 787-19s, 50 737-10s, and eight 777-8F freighters. Korean Air Lines is scheduled to take delivery sequentially through the late 2030s. It also expects that, because these aircraft are more fuel-efficient than existing models, they will help cut fuel costs and achieve its carbon-neutrality goals.
A Korean Air Lines official said, "We will further enhance customer service and operational efficiency through the introduction of next-generation aircraft and fleet modernization, and rise to become the most beloved airline in the world."