Korean Cautious As It Adds Another 777
Guggenheim Aviation Partners celebrated the delivery of a Boeing 777-300 extended range aircraft on Nov. 9 that Seoul-based Korean Air will operate under lease.
The delivery comes as South Korea’s top airline posted its second straight quarterly net profit and predicted further recovery albeit with caution for 2010.
Korean reported a net profit of $228 million for the third quarter of 2009. Its cargo and passenger business showed a slight improvement in October partly due to lower fuel costs.
"As oil prices continue to stabilize and the won strengthens further, the airline expects to deliver better performance in the coming year," the carrier said in a statement.
Meanwhile, the 777-300ER marks Guggenheim’s first leasing arrangement with Korean and the first new Boeing passenger airplane delivery to the aircraft leasing company. Guggenheim, which has offices in Seattle, London and Singapore, is scheduled to take delivery of an additional five 777s.
