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
Asiana Airlines
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
Pelican BioThermal announces tie-up with Asiana Airlines
Pelican BioThermal’s network station and drop point in Incheon, opened in May last year, seems to be paying off as the ‘global name in temperature-controlled packaging’ announced its latest partnership with Korean carrier Asiana Airlines. This gives Asiana Airlines access to Pelican BioThermal’s container-on-demand rental programme as the demand for shipping temperature-sensitive pharmaceuticals picks up in line with the Covid-19 response. Also read: Korean Air Cargo enhances … [Read more...] about Pelican BioThermal announces tie-up with Asiana Airlines
Cargo uptick to lift Q2 earnings for South Korea’s airlines
Korean Airlines seems to be moving back to profitability as its cargo business does well and helps balance the loss of passenger traffic, JoongAng Daily’s Jin Min-ji reports. Amidst increasing freight rates and relatively lower fuel and labour costs, Korean Air Lines expects to report a net profit of KRW 149 billion (US$124 million) in the second quarter, according to Hanwha Investment & Securities. This would be a turnaround from the KRW 736.86 billion (US$616 million) net … [Read more...] about Cargo uptick to lift Q2 earnings for South Korea’s airlines
Asiana Airlines takes delivery of its first A350 XWB
Asiana Airlines of South Korea has taken delivery of its first A350-900, becoming the 12th airline to operate the world’s newest and most efficient twin engine wide body airliner. Asiana’s A350-900 is configured with a three class layout with a total of 311 seats, comprising 28 in Business Smartium, convertible to fully flat beds, 36 in Economy Smartium and 247 in the main cabin. Altogether Asiana has ordered 30 A350s and will initially operate the aircraft on flights within Asia. From the third … [Read more...] about Asiana Airlines takes delivery of its first A350 XWB