Korean Air has finalized its largest-ever order, worth $50bn, for 103 Boeing aircraft and GE Aerospace engines and servicing. Announced during President Lee Jae Myung’s visit to Washington, the deal includes $36.2bn for Boeing’s 737 MAX 10, 777-9, and 787 jets, and $13.7bn for GE engines and long-term maintenance, Reuters reported.

CEO Cho Won-tae said about 80 percent of the new planes will replace older aircraft, while supporting expansion into US and Latin American markets. The order will also aid integration with Asiana Airlines, acquired last year. Boeing said the purchase will help Korean Air operate one of the world’s most efficient fleets. US officials praised the deal as a significant boost for aerospace exports and American manufacturing, according to Reuters.