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 financing support. Based on this, Korean Air Lines plans to accelerate the introduction of next-generation aircraft, achieve fleet modernization, and improve operating efficiency.
The Samurai bond that Korean Air Lines successfully issued totals 20 billion yen (about 190 billion won). Korean Air Lines said that successfully issuing a Samurai bond, a yen-denominated bond that foreign institutions or corporations issue 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 persist, Korean Air Lines has maintained stable profitability, and expectations for synergy from its integration with Asiana Airlines and the potential expansion of its route network drove investor demand.
Korean Air Lines also secured a total of 700 billion won in policy financing support from The Export-Import Bank of Korea, including 300 billion won in export financing and 400 billion won from the Supply Chain Stabilization Fund. The Supply Chain Stabilization Fund is a policy financing tool designed to respond to the restructuring of global supply chains and support the stable operation of key industries.
With this policy financing support, Korean Air Lines plans to add momentum to its fleet modernization drive. Last year, Korean Air Lines announced plans to invest a total of $36.2 billion (55.4294 trillion won) to add 103 high-efficiency aircraft from U.S. manufacturer 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 plans to take delivery of them in stages through the late 2030s. It also expects the aircraft, which are more fuel-efficient than existing models, to help cut fuel costs and meet its carbon neutrality goals.
A Korean Air Lines official said, "We will further enhance customer service and operating efficiency through the introduction of next-generation aircraft and fleet modernization, and move forward to become the most beloved airline in the world."