SEOUL, South Korea (AP) — Korean Air has announced a $50 billion deal to buy more than 100 Boeing aircraft and several spare engines and obtain engine maintenance for 20 years.

The deal was formalized at a signing ceremony Monday in Washington as South Korean President Lee Jae Myung met with President Donald Trump.

The deal includes $36.2 billion for 103 next-generation Boeing aircraft; $690 million for 19 spare engines from GE Aerospace and CFM International; and $13 billion for the 20-year engine maintenance service contract with GE Aerospace, Korean Air said in a statement.

“This deal is a strategic choice to strengthen Korean Air’s partnership with the U.S. aviation industry,” the Korean Air statement said. “This strategic investment in the U.S. market will further strengthen the ai

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