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Biz & Tech

Airlines

Sun, September 27, 2020 | 23:40

Incheon airport CEO warns of legal actions against transport ministry

Incheon airport CEO warns of legal actions against transport ministry

Incheon International Airport Corp. (IIAC) President and CEO Koo Bon-hwan warned of legal actions against the Ministry of Land, Infrastructure and Transport and its officials for what he claimed was their abuse of power in pushing to remove him from office.

Jun Ji-hye | 2020-09-25 16:49

Asiana to offer domestic sightseeing flights using A380

Asiana to offer domestic sightseeing flights using A380

Asiana Airlines will operate domestic sightseeing flights next month utilizing its A380 fleet whose operation has been suspended due to the prolonged COVID-19 pandemic.

Jun Ji-hye | 2020-09-24 16:49

Eastar Jet, Jeju Air face court battles after takeover rupture

Eastar Jet, Jeju Air face court battles after takeover rupture

Eastar Jet and Jeju Air are preparing to file lawsuits against each other after the latter scrapped its plan to acquire the former amid the prolonged COVID-19 pandemic, industry officials said Monday.

Jun Ji-hye | 2020-09-21 20:23

Korea and China begin irregular flights amid pandemic

Korea and China begin irregular flights amid pandemic

South Korea and China on Thursday began to operate irregular flights to allow Korean residents in China who returned here due to the coronavirus outbreak to go back, the transport ministry said. Korean Air Lines Co. and Xiamen Airlines will offer a total of seven flights from Incheon, west of Seoul, to Qingdao, Zhengzhou and Xiamen from Thursday until Oct. 15, according to th...

2020-09-17 09:39

Incheon airport CEO refuses to step down despite gov't pressure

Incheon airport CEO refuses to step down despite gov't pressure

Incheon International Airport Corp. (IIAC) President and CEO Koo Bon-hwan said the government's push to remove him from office was “unjust,” Wednesday, claiming that there is no justifiable reason for his dismissal.

Jun Ji-hye | 2020-09-16 17:08

T'way Air to start flights to Wuhan

T'way Air to start flights to Wuhan

T'way Air, a South Korean low-cost carrier, will begin flights to the Chinese city of Wuhan on Wednesday, marking the reopening of the air service to the epicenter of the coronavirus outbreak after eight months, the transport ministry said Tuesday. The Ministry of Land, Infrastructure and Transport approved T'way Air's once-a-week flight on the Incheon-Wuhan route, which was ...

2020-09-15 11:19

HDC shares climb after Asiana deal collapses

HDC shares climb after Asiana deal collapses

Shares in HDC Hyundai Development Co. climbed after its planned acquisition of debt-ridden Asiana Airlines Inc. fell through last week amid the prolonged COVID-19 pandemic. As of 10 a.m., HDC shares rose 1.2 percent to 25,050 won, outperforming the broader KOSPI's 0.9 percent gain, as it was relieved of the financial burden of taking over the carrier.

2020-09-14 11:37

Asiana deal set to collapse due to pandemic this week

Asiana deal set to collapse due to pandemic this week

HDC Hyundai Development Co.'s planned takeover of Asiana Airlines Inc. appears likely to collapse this week as the property developer failed to narrow differences with the airline's creditors over acquisition terms, people familiar with the matter said Tuesday. The deal, if it falls through, would become the country's second botched deal in the coronavirus-hit airline sector ...

2020-09-08 10:17

Eastar to cut half of employees

Eastar to cut half of employees

Embattled Eastar Jet Co. said Monday it will reduce its workforce by more than half as part of efforts to find a new investor after Jeju Air Co. scrapped its plan to acquire the smaller budget carrier amid the coronavirus pandemic. Eastar plans to lay off 640 workers, or 53 percent, of its 1,216 employees on Oct. 14 before it begins the process of finding a new investor, East...

2020-09-07 15:32

Creditors set to nullify $2.2 bil. Asiana deal

Creditors set to nullify $2.2 bil. Asiana deal

After failing to reach the initially proposed “conditions” surrounding the specifics of the takeover of Asiana Airlines by Hyundai Development Company (HDC) between the latter and the Korea Development Bank (KDB), the airline's main creditor, the state-run bank is “seriously considering” nullifying the $2.2 billion deal, sources familiar with the matter said Sunday.

Kim Bo-eun | 2020-09-04 16:58

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