Korean Air said its first quarter sales and operating profits were the highest ever, based on an increase in demand for travel and a strong won. The carrier’s first quarter sales were 2.6 trillion won (US$2.3 billion), up 14.8 per cent from the first quarter of last year, when it achieved its previous record of 2.3 trillion won. Operating profit also rose to 220.2 billion won in the first quarter, up 45.4 per cent from the previous record of 151.4 billion won, which was recorded in … [Read more...] about Korean Air hits Q1 sales and profit records
Korean Air
WFS boosts volumes with 12 new contracts
Worldwide Flight Services (WFS), the world’s largest cargo handler, has boosted its volumes in Paris by over 6,000 tonnes a month after signing contracts with a dozen new airlines. Korean Air is the largest of the contracts and sees WFS handling 2,000 tonnes a month for the airline through its cargo facilities at Paris CDG. TAM Airlines of Brazil will boost throughput by a further 1,000 tonnes a month. The remaining ten contracts with Air Caraibes, Air Madagascar, Air … [Read more...] about WFS boosts volumes with 12 new contracts
Korean Air to supply as B747-8 wing part supplier
Korean Air’s Aerospace Business Division has announced that the airline has been selected to produce the wing structure components for the new Boeing 747-8 aircraft. Since August 2008 Korean Air’s Tech Centre – the Aerospace Business Division, located in Pusan, South Korea – has delivered raked wing tips, wing tip extensions and flap tTrack fairings for Boeing’s wing structures. “Korean Air has produced the components of the … [Read more...] about Korean Air to supply as B747-8 wing part supplier
Korean Air launches Hanoi service
Korean Air Lines (KAL) Cargo has announced the launch of a scheduled B747-400 freighter service to the Vietnamese capital, Hanoi. The service will operate twice-weekly to Hanoi via Singapore from Seoul Incheon with the return routed direct from Hanoi to Incheon. The carrier pointed to the presence of MNCs like Canon, Nike and Toyota which it said were generating air cargo export traffic through Hanoi ranging from electronics to textiles. … [Read more...] about Korean Air launches Hanoi service
Korean pulls out of SkyTeam cargo alliance
Korean Air has terminated its involvement in the SkyTeam joint venture cargo sales alliance that had been formed with SkyTeam partners Delta and Air France. The Asian carrier's withdrawal effectively ended the joint venture after Delta Cargo decided to pull out late last year. Korean will now sell its cargo capacity in the US and Canadian market through its own offices following a revamp of its sales network creating one western and one eastern division. … [Read more...] about Korean pulls out of SkyTeam cargo alliance
SOUTH KOREA: Korean Air swings to Q2 net profit
Korean Air reported this week that it has swung to a net profit in the second quarter after six consecutive quarters of losses, helped by lower fuel costs and large currency-linked gains. The world’s largest air cargo carrier is expected to see business recover gradually in the second half as South Korean exports improve and travel demand revives. Korean Air posted a 78.5 billion won (US$63.56 million) net profit for the quarter to 30 June compared with net losses of 288.9 billion … [Read more...] about SOUTH KOREA: Korean Air swings to Q2 net profit
