Per the terms, Korean Air will deploy VSAT's inflight broadband solution for its upcoming fleet of Airbus A321neo aircraft.

As part of a fleet modernization plan, Korean Air will receive 30 A321neos by 2027, to be delivered linefit with the global satellite company's connectivity solution. 

The deal is at par with Korean Air's focus on enhancing connectivity in the flight, with the research indicating 89% of Korean respondents are more likely to rebook with an airline on the availability of quality inflight Wi-Fi (vs. 82% globally).

"We are proud to add Korean Air, a leading airline, as a valued inflight connectivity customer in this major market. Key to our ability to service Korean Air's new A321neo fleet is our robust satellite network, designed to deliver fast and reliable Wi-Fi for an exceptional passenger experience," said Jimmy Dodd, VSAT's SVP & President, Global Enterprise & Mobility.

Price Action: VSAT shares closed higher by 4.86% at $26.78 on Monday.