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Biz & Tech

Airlines

Sat, April 17, 2021 | 11:07

Korean Air predicted to have turned profit on strong logistics demand

Korea's flagship carrier Korean Air Lines Co. is expected to have turned a profit in the first quarter of 2021, data showed Sunday, as the company expanded its logistics business after the new coronavirus pandemic virtually suspended passenger travel.

2021-04-11 19:57

'Korean Air's Asiana takeover to create W400 billion in synergy effect'

The melding of the country's two leading full service carriers (FSC) is expected to create up to 400 billion won ($354 million) in a year in synergy. Korean Air, the country's leading airline, plans to take over Asiana Airlines after two years of preparation, while three low-cost carriers (LCC) - Jin Air, Air Busan and Air Seoul - run by the two airlines, are also being consi...

Kim Hyun-bin | 2021-03-31 16:39

Korean Air to launch Asiana-merged entity in 2024 after finishing takeover next year

Korean Air Co., South Korea's largest airline, said Wednesday it plans to launch a merged entity with its smaller rival Asiana Airlines Ltd. in 2024 after completing a takeover process next year. Korean Air, which announced plans to acquire the debt-ridden Asiana for 1.8 trillion won (US$1.6 billion) in November, has submitted a post-merger integration plan to the state-run K...

2021-03-31 14:36

Korean Air delays merger of Asiana to 2024

The country's leading full-service carrier (FSC) has delayed its purchase of Asiana Airlines to 2024, a move which will make Korean Air become the world's seventh-largest airline. However, there are several obstacles in the way, including monopolization issues and the future operations of low-cost carriers (LCC) - Jin Air, Air Busan and Air Seoul - the two large airlines curr...

Kim Hyun-bin | 2021-03-29 16:27

Cho reappointed as Korean Air boss but KDB set to interfere in key decisions

Hanjin Group Chairman Cho Won-tae has been reappointed as executive director of Korean Air during the 59th shareholders meeting held at the company's headquarters in Seoul, Friday. He received a majority vote of 82.84 percent despite opposition from the National Pension Service which holds 8.52 of the company's shares.

Kim Hyun-bin | 2021-03-26 16:38

20 years of Incheon airport: from opening to becoming world-class airport

Incheon International Airport, which opened on March 29, 2001, with an aim of becoming the hub of Northeast Asian air traffic, will celebrate its 20th anniversary next Monday. Though the airport has been facing difficulties since last year due to the prolonged COVID-19 pandemic, it has had continued high growth since its opening, showing an average annual growth rate of 8 per...

Jun Ji-hye | 2021-03-24 08:09

Korean Air chief's salary surges while workers' pay slashed amid pandemic

Hanjin Group Chairman Cho Won-tae is under fire for raising his salary 40 percent while the average wage at affiliate Korean Air was cut almost 16 percent amid the coronavirus pandemic. According to Korean Air's 2020 business report, the salary of an average employee stood at 60.82 million won, down 15.6 percent from the previous year.

Kim Hyun-bin | 2021-03-19 14:50

Singapore Airlines becomes world's 1st to test IATA's Travel Pass

Singapore Airlines has become the world's first airline to use the International Air Transport Association's (IATA) Travel Pass, a mobile application designed to show if passengers have been vaccinated against COVID-19 or tested negative for the coronavirus. The pilot program is being tested on passengers travelling from Singapore to London from March 15 through 28. This mark...

Jun Ji-hye | 2021-03-17 09:00

Demand for domestic air travel rebounds, while int'l travel still remains weak

Demand for domestic air travel rebounded last month to pre-COVID-19 pandemic levels, while demand for international flights is still showing no signs of recovery, according to the Ministry of Land, Infrastructure and Transport, Sunday.The ministry said the number of passengers who used domestic routes operated by local airlines last month was tallied at about 2.31 million, si...

Jun Ji-hye | 2021-03-15 08:54

Cathay Pacific posts record $2.8 billion annual loss

Hong Kong's Cathay Pacific Airways Ltd said on Wednesday it was focused on preserving cash after it posted a record annual loss of HK$21.65 billion ($2.79 billion), caused by a travel downturn, restructuring costs and fleet writedowns. The 2020 loss compared with 2019 profit of HK$1.69 billion and was worse than an average forecast for a net loss of HK$19.9 billion by 13 anal...

2021-03-10 13:54

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