Seoul. Korean Air has announced a $50 billion deal to buy more than 100 Boeing aircraft, buy additional spare engines and get engine maintenance services for 20 years.

Us President Donald Trump and South Korean President Lee Jae-in met in Washington on Monday.

Under the agreement, $36.2 billion has been allocated for 103 next-generation Boeing aircraft, $690 million for 19 spare engines of GE Aerospace and CFM International, and $13 billion for a 20-year engine maintenance service agreement with GE Aerospace.

“This agreement is a strategic decision to further strengthen our partnership with the US aviation industry,” Korean Air said in a statement. The investment in the U.S. market will increase the airline’s operational capabilities and global competitiveness, as well as strengthen long-term business ties and encourage sustainable growth. ’

The purchase order includes 20 Boeing 777-9, 25 Boeing 787-10, 50 Boeing 737-10 and eight Boeing 777-8F cargo aircraft. All these aircraft are scheduled to be delivered in a phased manner by the end of 2030.

Walter Cho, President and CEO of Korean Air and Hanjin Group, Stephanie Pope, President and CEO of Boeing Commercial Airplanes, and Russell Stokes, President and CEO, Commercial Engines and Services, GE Aerospace, were present at the signing ceremony.