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Wed, February 2, 2022 | 17:20
Policies
KAL, Asiana earn W1.8 tril. from selling mileage to card firms
Posted : 2019-10-06 17:26
Updated : 2019-10-07 18:11
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By Jhoo Dong-chan

Korean Air and Asiana Airlines have earned nearly 2 trillion won ($1.67 billion) by selling air mileage to credit card companies since January 2016, government data showed Sunday.

Card firms have bought the mileages of cardholders who wanted to convert their card points to air miles but not many cardholders were found to have used the mileage before it expired due to various terms and conditions.

According to Financial Supervisory Service data released by Rep. Koh Yong-jin of the ruling Democratic Party, Korean Air and Asiana Airlines jointly earned 1.8 trillion won by selling the mileage to 19 domestic card firms between January 2016 and August 2019.

Korean Air sold 17 domestic card firms 78.91 billion mileage points for 1.19 trillion won. Asiana Airlines also posted a 617.2 billion won profit by selling 56.21 billion mileage points to 18 card firms.

"The two airliners have gained enormous profits by selling their air mileages to card firms for years. However, cardholders are experiencing difficulties in using the mileage because the airliners set up various terms and conditions," said Rep. Koh.

"Airliners also set an expiration date for the use of the mileage. A number of customers fail to use theirs before the expiration date. They should get rid of the expiration date so customers can freely use their air mileage."

The Free Trade Commission (FTC) said the agency is reviewing the two airliners' terms and conditions since it received a series of complaints from customer groups.

"Air mileage automatically expires within 10 years, but there are so many barriers to use it. It is almost impossible to use it before it expires," the groups said.

"Air mileage is not even allowed to be used until customers reach a certain number of points. It's unfair."

The FTC said it will recommend the airliners revise their terms and conditions and terms to help customers use their mileages more freely.




Emailjhoo@koreatimes.co.kr Article ListMore articles by this reporter



 
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