• Deal can reach up to 52 Boeing airplanes if options are exercised

Seattle, WA | November 5, 2015– Boeing [NYSE: BA] and Korean Air today finalized the airline’s order of 30 737 MAXs and two additional 777-300ER (Extended Range) jetliners valued at nearly $4 billion at current list prices. The airline also has options for additional 737 MAXs as part of the order, which was previously announced as a commitment during the Paris Air Show in June.

With this order for up to 52 Boeing airplanes, Korean Air becomes Boeing’s newest 737 MAX customer and now has 62 firm Boeing airplane orders on backlog.

“Korean Air is a valued Boeing customer and today’s order is the culmination of our longstanding partnership that spans over four decades,” said Boeing Commercial Airplanes President and CEO Ray Conner. “Korean Air has been a pioneer in Asia’s commercial aviation industry and today, we are truly honored to welcome Korean into the new 737 MAX family. I am confident these new airplanes will play an important role in Korean Air’s fleet modernization program for many years to come.”

As part of this order for 737 MAX airplanes, Korean Air also adds another two 777-300ERs as it continues to modernize its long-haul widebody fleet.

Korean Air currently operates a fleet of 91 Boeing passenger airplanes that consist of 737, 747 and 777 models. The airline also operates an all-Boeing cargo fleet of 28 747-400, 747-8 and 777 Freighters.

Korean Air’s Aerospace Division is a key Boeing partner on both the 747-8 and 787 programs, supplying the distinctive raked wing-tips for each model. They are also one of two suppliers producing the new 737 MAX Advanced Technology (AT) Winglet.

The 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. Beginning in 2017, the new single-aisle airplane will deliver 20 percent lower fuel use than the first Next-Generation 737s and the lowest operating costs in its class – 8 percent per seat less than its nearest competitor. With broad market acceptance, the 737 MAX has 2,929 orders from 60 customers worldwide.

The 777-300ER is one of the most fuel and cost-efficient airplanes in its class as well as the most reliable twin-aisle aircraft in the world. It also has the highest cargo capability of any passenger airplane in service. The 777-300ER will receive further improvements in 2016 designed to reduce fuel use by 2 percent. The flagship of the world’s elite airlines, the 777-300ER carries 396 passengers in a standard two-class configuration up to 7,370 nautical miles (13,650 kilometers), on non-stop routes. Korean Air has configured its 777-300ER with a seating capacity of 277 passengers in a three-class configuration.

Korean Air, with a fleet of 166 aircraft, is one of the world’s top 20 airlines, and operates more than 430 flights per day to 128 cities in 45 countries. It is a founding member of the SkyTeam alliance, which together with its 20 members, offers its 612 million annual passengers a worldwide system of more than 16,000 daily flights covering 1,052 destinations in 177 countries.

• In Boeing factory, President engages with employees about airplanes built for China
• Boeing, China finalize agreements for 300 China orders & commitments
• Boeing, COMAC to partner on 737 completion and delivery center in China
• Additional cooperation with Chinese supplier AVIC
• New initiative to develop sustainable aviation biofuel to reduce carbon emissions

Everett, WA | September 23, 2015– Boeing (NYSE: BA) today welcomed China President Xi Jinping to its widebody commercial airplane factory and announced several agreements that will broaden and deepen mutually beneficial cooperation between Boeing and China.

The agreements include orders and commitments for 300 Boeing narrowbody and widebody aircraft and expanded collaboration between Boeing and China’s commercial aviation industry.

Together, Boeing and China committed to further advance development of China’s commercial aviation industry and meet strategic business objectives for Boeing in the world’s largest airplane market going forward.

President Xi, accompanied by Boeing executives, viewed final assembly lines for the 787 Dreamliner, 777 and 747-8, as well as aircraft components made by Chinese aviation suppliers. The president also spoke with Boeing employees and the 787 chief pilot about their work on airplanes built for Chinese carriers.

Boeing President and CEO Dennis Muilenburg said Boeing appreciated China’s continued trust and confidence. “Today’s visit by President Xi represents a new chapter in the valuable relationship between Boeing and China,” Muilenburg said. “Boeing is committed to further strengthening and deepening our partnership with China in mutually beneficial ways that will bring positive outcomes to Boeing and our Chinese partners.”

“Boeing will continue to work closely with our customers, suppliers and other stakeholders in China to support the long-term growth of China’s aviation industry and jobs here in the United States,” said Boeing Commercial Airplanes President and CEO Ray Conner.

Agreements announced today include:

Boeing and National Development Reform Commission (NDRC)

Boeing and NDRC have signed a Memorandum of Understanding (MOU) that will advance their long-term strategic cooperation through several “Pillars of Partnership.” These pillars include:

• Industrial cooperation
• Continued development of a world-class aviation transportation system through deliveries to China of Boeing airplanes and services
• Development of technologies to reduce aviation’s environmental impact and enhance sustainability
• Leadership development and training for the next generation of leaders in China’s aviation industry
• Continued cooperation to support the safety, efficiency and capacity of China’s air transport system
• Orders and Commitments for Boeing Commercial Airplanes

Boeing and China Aviation Supplies Holding Company (CASC) have signed a General Terms Agreement related to the purchase of 300 airplanes. The package has a value of approximately $38 billion at list prices.

Aircraft orders and commitments include:

• (240) airplanes for Chinese airlines, including (190) 737s and 50 widebody aircraft
• (60) 737s for leasing companies ICBC and CDB Leasing

“Boeing airplanes have played an important role in supporting the development of China’s aviation transportation for the past 40 years,” said Li Hai, president of China Aviation Supplies Holding Company. “These additional airplanes will further help connect the people in China and around the world.”

“China is a critical international market for commercial airplanes,” said Conner. “We thank our Chinese customers for selecting fuel-efficient Boeing airplanes to meet their fleet growth and expansion.”

Orders are posted on Boeing’s Orders & Deliveries website after all contingencies are cleared.

737 Completion and Delivery Center in China

Boeing and Commercial Aircraft Corporation of China, Ltd., (COMAC) will partner to open a facility in China for the interiors completion, paint and delivery of Boeing 737 aircraft to Chinese customers. The joint venture facility will significantly expand Boeing’s collaboration with China’s aviation industry while also enabling future production rate increases at Boeing’s 737 final assembly factory in Renton, Wash. This China-based facility will not reduce 737 Program employment in Washington State.

“Boeing is expanding our longstanding relationship with Chinese industry to meet vital goals for our company: We are bringing the Boeing 737 closer to our Chinese customers, supporting rising 737 production rates and enhancing our access to China’s dynamic and fast-growing aviation market,” said Conner. “The 737 will be a cornerstone of the Chinese fleet for years to come, and we look forward to delivering 737s to Chinese customers in China.”

COMAC Vice President Wu Guanghui said: “The new collaboration between Boeing and COMAC will help advance the Chinese commercial transportation market in a better and faster way, and will benefit the development of supporting Chinese industries related to aircraft completion as well as the global growth of China’s civil aviation business.”

Boeing, COMAC and Chinese government officials are working toward a final business agreement and will announce the facility’s location and timing of first deliveries at a later date. Boeing, now building a record 42 737s per month, will increase production to 47 airplanes per month in 2017 and 52 airplanes per month in 2018 to meet strong demand for the 737, the world’s most fuel-efficient single-aisle airplane.

Boeing and Aviation Industry Corp. of China (AVIC)

Boeing and Aviation Industry Corp. of China (AVIC) will broaden their long-term collaboration to support Boeing’s commercial airplane programs. In a framework agreement, the companies said they intend to further advance AVIC’s manufacturing capabilities by adding major component and assembly work packages; strengthening leadership; and developing AVIC’s broad aviation infrastructure and business practices, including supply chain management.

“Our companies have committed to work together to expand Boeing and China’s mutually beneficial supplier-partner relationship,” said Kent Fisher, vice president and general manager, Supplier Management, Boeing Commercial Airplanes. “Broadening and deepening our long-term collaboration demonstrates Boeing’s continued commitment to China and our continued trust in AVIC’s ability to meet Boeing’s stringent requirements for high quality and on-time delivery. In addition, AVIC has been a great role model for Partnering for Success, using Lean manufacturing techniques to increase the affordability of our airplanes.”

“Boeing’s commitment to increase AVIC’s statement of work will help enhance our manufacturing capabilities, capacity and efficiency, which will contribute to improving the competitiveness of Boeing airplanes,” said Geng Ruguang, executive vice president, AVIC. “We look forward to strengthening our partnership even more as we work together to address the win-win opportunities presented in a rapidly growing market for commercial airplanes.”

Further development of sustainable aviation biofuel

Under the framework of the MOU between Boeing and NDRC, Boeing and NDRC announced a new initiative to turn agricultural waste in China into sustainable aviation biofuel. Boeing will partner with NDRC to turn items from farms, such as corn cobs and wheat stalks, into sustainable jet fuel as a way to reduce aviation’s carbon emissions.

“Biofuel collaboration between Boeing and Chinese partners is a prime example of how we are determined to make progress on environmental challenges that no company or country can solve alone,” said Ian Thomas, president, Boeing China. “Together, we’re finding innovative ways to support China’s aviation industry and help build a sustainable future.”

When produced sustainably, aviation biofuel reduces carbon emissions by 50 to 80 percent on a lifecycle basis compared to conventional petroleum jet fuel, according to studies by the U.S. Department of Energy.

Boeing has partnered with Chinese stakeholders to support development of China’s air transport system since President Richard Nixon arrived in Beijing on Air Force One, a Boeing 707, in 1972. Today, more than 50 percent of commercial jetliners operating in China are Boeing airplanes. Over the next 20 years, China will be Boeing’s largest commercial airplane market with a projected need for 6,330 new airplanes, worth an estimated $950 billion.

Boeing is the largest international customer of China’s aviation manufacturing industry, with suppliers playing a role in 737, 747, 767, 777 and 787 Dreamliner production. Boeing works with Chinese industry, universities and other institutions to develop sustainable aviation biofuel and improve air-traffic system efficiency.