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Korean Air Predicted to Have Turned Profit on Strong Logistics Demand

Korean Air Predicted to Have Turned Profit on Strong Logistics Demand

SEOUL, April 11 (Korea Bizwire) — South Korea’s flagship carrier Korean Air Lines Co. is expected to have turned a profit in the first quarter of 2021, data showed Sunday, as the company expanded its logistics business after the new coronavirus pandemic virtually suspended passenger travel. The country’s top airline operator is expected to post [...]

Budget Carrier Eastar Aims to Pick New Investor by Early May: CEO

Budget Carrier Eastar Aims to Pick New Investor by Early May: CEO

SEOUL, April 6 (Korea Bizwire) — Financially troubled Eastar Jet aims to select a new investor by early May as several investors have shown an interest in the budget carrier, the company’s chief executive officer said Tuesday. Eastar will decide whether to proceed with the investor selection process in the form of a “stalking-horse” bid [...]

Google to Invest Over 50 bln Won in Kakao Mobility

Google to Invest Over 50 bln Won in Kakao Mobility

SEOUL, April 1 (Korea Bizwire) — U.S. tech giant Google will invest more than 50 billion won (US$44.15 million) in Kakao Mobility Corp., the country’s top taxi-hailing company, parent Kakao Corp. said Thursday. Google will invest in Kakao Mobility by acquiring new shares worth 56.51 billion won, according to a regulatory filing from Kakao. The [...]

Airlines to Levy Fuel Surcharges on Int’l Routes in April After 1-year Hiatus

Airlines to Levy Fuel Surcharges on Int’l Routes in April After 1-year Hiatus

SEOUL, March 16 (Korea Bizwire) – South Korean airlines will impose fuel surcharges on international routes next month after a one-year hiatus due to soaring jet fuel prices, industry sources said Tuesday. Starting April 1, the surcharge for one-way tickets on international routes will range from 3,600 won (US$3.2) to 24,000 won depending on routes, [...]