Asiana Airlines earned a profi t of KRW38 billion (US$41.5 million) in the second quarter, up from a KRW15 billion profi t in the year-ago period, thanks to investment gains and the appreciation of the won, according to a regulatory fi ling cited by the Antara news agency. Revenue rose 2.1 percent year-over-year to KRW861 billion but operating profi t dropped 7.2 percent to KRW20 billion. … [Read more...] about KOREA: Asiana doubles profi t in 2Q

Seoul-based Korean Air Lines Co. has won preliminary approval to set up an US$65m venture with three other partners in China. The airline will spend US$16.25m on a 25 percent stake in the venture, named Galaxy International. Sinotrans Air Tranportation Development Co. will invest US$33.15m for a 51 percent stake, while the rest will be shared by investment fi rms Hana Capital and Shilan Capital. … [Read more...] about KOREA: Korean Air’s Chinese venture

Japan Airlines (JAL) has started a twice weekly all-cargo service using a B767-300 freighter between Tianjin and Tokyo. The service, which has a capacity of 45 tonnes, departs from Tokyo Narita, stopping at Nagoya and Tianjin before returning to Tokyo. With the Nagoya- Tianjin-Osaka cargo line service from All Nippon Airways (ANA), the new service will raise the number of fl ights from Tianjin to Japan to seven a week. … [Read more...] about JAPAN: JAL starts freighter service to Tianjin

Acquired by Bill Franke’s Indigo Partners a year ago, Mandala Airlines has massively expanded its business, particularly its fl eet. The airline recently signed an agreement with Airbus for 25 A320s valued at US$1.9 billion. The deal, which was inked in Paris recently will make Mandala the fi rst Indonesian airline to operate this type of aircraft. Mandala Airlines president director Diono Nurjadin said the aircraft are expected for delivery from 2011 to 2014, replacing the current fl … [Read more...] about INDONESIA: Mandala Airlines inks Airbus deal

Flag carrier Garuda Indonesia recently signed a codeshare agreement with Hainan Airlines. EVP sales & marketing of Garuda Indonesia, Agus Priyanto said the MoU allows Garuda to operate three weekly round fl ights on the Jakarta-Beijing-Jakarta sector, using a B737NG. Hainan will be given the right to offer connecting fl ight for Garuda to Harbin, Hangzhou, Nanning and several other cities. As the fourth largest carrier in China, Hainan Airlines fl ies to 53 cities in China. Garuda … [Read more...] about INDONESIA: Garuda codeshares with Hainan

Plans to release 49 percent of Garuda Indonesia’s shares to strategic investors have been cancelled because the carrier is focusing on its re-structuring programme before an IPO in 2009. Part of the restructuring programme is selling all non-productive assets starting this year, to collect US$75 million, fi nancialdirector Alex Maneklaran said. The non-productive assets include the Garuda Indonesia building in Jakarta, fi ve DC-10 aircraft, and land. Although no names have been … [Read more...] about INDONESIA: Garuda Indonesia sells assets