SEOUL, June 9 (Korea Bizwire) — The airline industry, facing one of an almost existential crisis posed by the coronavirus, is making unexpected progress in the shipping sector.
Korean Air Lines Co., the country’s top flag carrier, said Sunday that its international shipping in April reached 104.6 tons, up by 12 percent from last year. The airline is expecting a 15 percent increase in international shipping for May.
Korean Air revealed recently that it started loading cargo in the cabin earlier this month to meet rising shipping demand. Previously, the company used idle aircraft for shipping.
At the start of the coronavirus outbreak, shipping items were mostly quarantine, medical, and untact consumption goods. Now, ordinary shipping items that were on standby are gradually making a comeback.
Asiana Airlines Inc., South Korea’s second-biggest airline, also saw a 4 percent increase in shipping in April compared to last year, and expects a 6 percent increase for May.
The stock market raised its prospects for better financial performance at Korean Air and Asiana as their fortunes are expected to improve in the second quarter led by the shipping sector and cost savings efforts.
Image Credit: Yonhap / Korean Air / photonews@koreabizwire.com
