ECS Group, the world’s leading General Sales & Service Agent (GSSA), has been selected by Asiana Airlines as its exclusive global partner to manage the airline’s international belly cargo business. This strategic GSSA agreement reinforces ECS Group’s reputation for delivering seamless, world-class cargo solutions and supports Asiana’s logistics evolution following the divestment of its freighter division. Effective August 1, ECS Group provides end-to-end services—including sales, … [Read more...] about ECS Group selected as exclusive GSSA partner for Asiana Airlines’ global belly cargo operations
Asiana Airlines
Korean Air acquires 63.88% stake in Asiana Airlines
Korean Air has completed its acquisition of Asiana Airlines, four years after announcing its decision on November 16, 2020. On December 12, Korean Air acquired 131,578,947 newly issued shares of Asiana Airlines, representing a 63.88% ownership stake and making Asiana Airlines a subsidiary of Korean Air. The completion follows Korean Air's payment of KRW 800 billion to Asiana Airlines on December 11, concluding the share purchase transaction. This brings the total investment through the … [Read more...] about Korean Air acquires 63.88% stake in Asiana Airlines
Vienna Airport and Asiana Airlines celebrate 25th anniversary
Vienna Airport and Asiana Airlines are celebrating 25 years of successful partnership. Since the first cargo flight in 1999, the South Korean airline has transported more than 370,000 tons of air freight on over 6,300 flights between Vienna and Incheon – an important contribution to the economic network between Austria and South Korea. On the occasion of this important milestone, the airport and the airline celebrated the long-standing cooperation with Sang Wook HAM, Ambassador of the Republic … [Read more...] about Vienna Airport and Asiana Airlines celebrate 25th anniversary
Korean-Asiana merger secures China’s approval
The Ministry of Commerce of the People’s Republic of China (MOFCOM) announced its approval of Korean Air’s business combination with Asiana Airlines on December 26. MOFCOM has demanded that the merged Korean Air-Asiana entity reduce its market share due to competition concerns, to which Korean Air has submitted remedies proposing to transfer slots to any new airlines wishing to start air services on nine routes where both Korean Air and Asiana Airlines operate. Five of the nine routes have … [Read more...] about Korean-Asiana merger secures China’s approval
Korean Air sets eyes on becoming top global airline
Korean Air is gearing up for 2022 and has its sights on becoming a top 10 airline with the completed acquisition of Asiana Airlines. Walter Cho, Chairman and CEO of Korean Air, showed his appreciation to his entire team in his New Year’s address, noting that 2022 will be a ‘crucial year’ in preparation for the airline’s post-pandemic era. “It was during this most difficult time that we have achieved so much. These remarkable achievements would not have been possible without you. You are … [Read more...] about Korean Air sets eyes on becoming top global airline
Korean Air posts operating profit as cargo takes up slack
Korean Air has reported W238.3 billion (USD 219 million) in operating profit for 2020, 17 percent below 2019 figures, thanks to the airline’s strong cargo business and company-wide efforts to cut costs. Due to COVID-19, the significant fall in passenger demand resulted in a 40 percent drop in revenues to W7.4 trillion (USD 6.806 billion), the flag carrier said in a statement. Total operating expenses were down 40 percent year on year, reflecting the significant decline in passenger … [Read more...] about Korean Air posts operating profit as cargo takes up slack
