Korean Air announced earlier this month that it would purchase five Boeing 747-8 Intercontinental jetliners SOUTH KOREA worth US$1.5 billion at list prices in an important deal for the successor to the classic 747 jumbo jet.

The South Korean carrier becomes the second airline after Germany’s Lufthansa to order the plane, which has waited almost three years for a second passsenger-carrying customer. Until now, Boeing had previously sold 27 passenger versions of the 747-8 airplane worth $300 million each at list prices. These include 20 planes for Lufthansa and seven earmarked as specially fitted VIP versions for private individuals or organisations.

Korean Air, the world’s largest air cargo carrier has already committed to operate seven 747-8 freighters. Boeing has sold 78 freighter versions of the 747- 8, worth nearly $300 million each.

Korean Air also has 10 B787 Dreamliners on order, as well as 14 wide-body B777s and a handful of single-aisle B737s from Boeing and it has ordered 10 A380s worth US$3.3 billion from Boeing’sEuropean rival Airbus.