SEOUL, Feb. 24 (Korea Bizwire) — Korea Aerospace Industries, Ltd. (KAI), South Korea’s sole aircraft manufacturer, said Friday it has won a 1.2 trillion-won (US$920 million) aircraft deal from Malaysia, with the delivery set to begin in 2026. KAI signed the deal with the Malaysian defense ministry to export 18 FA-50 light attack aircraft, beating [...]
SEOUL, Feb. 9 (Korea Bizwire) — South Korea plans to develop a microsatellite system by 2030 under a 1.42 trillion-won (US$1.13 billion) project aimed at bolstering capabilities to monitor the Korean Peninsula and nearby waters, the arms procurement agency said Thursday. The Defense Acquisition Program Administration (DAPA) outlined the inter-agency plan in a meeting with [...]
SEOUL, Feb. 9 (Korea Bizwire) — Air Busan Co., a budget carrier unit of Asiana Airlines Inc, said Thursday it will resume the Busan-Kaohsiung route next month as travel demand recovers amid eased virus curbs. Air Busan plans to provide four flights a week on the Taiwan route from March 29 following three years of [...]
SEOUL, Feb. 8 (Korea Bizwire) — Jeju Air Co., South Korea’s biggest low-cost carrier, said Tuesday it shifted to a net profit in the fourth quarter as eased COVID-19 restrictions unleashed pent-up travel demand. The budget carrier swung to a net profit of 17.4 billion won (US$14 million) for the three months ended Dec. 31 [...]
SEOUL, Feb. 6 (Korea Bizwire) – Jeju Air Co., South Korea’s biggest low-cost carrier, said Monday it will expand flights to Vietnam and Laos in April after three years of their suspension due to the COVID-19 pandemic. Jeju Air plans to resume services on the routes from Incheon to Hanoi, Ho Chi Minh City and [...]
SEOUL, Feb. 6 (Korea Bizwire) — The number of international flights has returned to 60 percent of pre-pandemic levels in January, helped by increased travel to Japan and Asian countries, the transport ministry said Monday. In January, international flights that went through Incheon International Airport reached 27,206, recovering from the 45,046 flights marked in January [...]
SEOUL, Feb. 1 (Korea Bizwire) — Korean Air Co., South Korea’s biggest air carrier by sales, said Wednesday its net profit nearly tripled in 2022 from a year earlier as travel demand recovered amid eased COVID-19 virus curbs. The national flag carrier posted a net profit of 1.73 trillion won (US$1.4 billion) last year, up [...]
SEOUL, Jan. 31 (Korea Bizwire) — Jeju Air Co., South Korea’s biggest low-cost carrier, said Tuesday it has partnered with an Indonesian airport operator to develop new routes to the Southeast Asian country. Jeju Air has signed a memorandum of understanding (MOU) with the state-run PT Angkasa Pura 1 (AP1) to develop new routes from [...]
SEOUL, Jan. 18 (Korea Bizwire) — South Korea’s air traffic rose 16 percent in 2022 from a year earlier on unleashed pent-up demand for travel amid eased COVID-19 virus curbs, the transport ministry said Wednesday. Airlines, domestic and foreign, made a total of 539,788 flights over South Korea last year, up from 465,469 flights a [...]
SEOUL, Jan. 17 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest carrier, said Monday it has returned all passenger aircraft once used as cargo planes during the pandemic to their original state. The company completed the remodeling of the aircraft ahead of the reopening of international flight routes in recent months. The company converted [...]