SEOUL, March 25 (Korea Bizwire) — Executives of Korean Air Lines Co. will return part of their wages from April to help the company survive the worsening business environment due to the coronavirus outbreak, the company said Wednesday. Executives’ salaries will be reduced by up to 50 percent starting in April and continuing until the [...]
SEOUL, March 24 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest airline, on Tuesday unveiled additional self-rescue measures as the spreading coronavirus outbreak wreaks havoc on its business. Asiana Airlines has already suspended most of its flights on international routes as an increasing number of countries close their borders or impose stricter entry restrictions [...]
SEOUL, March 23 (Korea Bizwire) – South Korean airlines are facing further challenges after the government imposed stricter entry restrictions to fight the spreading coronavirus outbreak. Korean Air Co., South Korea’s biggest airline and national flag carrier, said Monday it will temporarily suspend all flights on the Incheon-Beijing route from Saturday to April 25, leaving [...]
SEOUL, March 21 (Korea Bizwire) — South Korean low-cost carrier Eastar Jet Co. will shut down all of its flights, company officials said Saturday, amid a travel slump triggered by the novel coronavirus pandemic. Eastar Jet will halt operation of its domestic flights from Tuesday to April 25, according to the officials. The budget carrier [...]
SEOUL, March 20 (Korea Bizwire) — Woowa Brothers Corp., South Korea’s top food delivery app operator, said Friday it swung to an operating loss in 2019 despite a jump in sales. Its operating losses stood at 36.4 billion won (US$29.2 million) last year, a sharp turnaround from operating gains of 52.5 billion won a year [...]
SEOUL, March 19 (Korea Bizwire) — South Korean airlines are halting more flights as countries imposed more entry restrictions in their fight against the spread of the novel coronavirus. Korean Air Lines Co., the country’s biggest airline and national flag carrier, said Thursday it will begin reducing the number of flights to three per week [...]
SEOUL, March 16 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest airline by sales, said Monday it has begun to use passenger jets to transport cargo on suspended routes amid the spreading coronavirus outbreak. Korean Air initially started to use grounded passenger aircraft to deliver cargo on routes to Ho Chi Minh City [...]
SEOUL, March 11 (Korea Bizwire) — The majority of small businesses feel that the “rent reduction campaign” initiated to help merchants struggling due to the coronavirus outbreak has had no practical effect, a recent survey revealed. A survey of 1,080 small business owners nationwide conducted by the Korea Federation of Micro Enterprise showed that 90.3 [...]
SEOUL, March 10 (Korea Bizwire) — Korean Air Lines Co. said Tuesday it has offered a voluntary leave program to its employees as it struggles to cope with the sharp decline in travel demand amid the spread of the coronavirus. Flight attendants who have worked for the flag carrier for at least two years can [...]
SEOUL, March 9 (Korea Bizwire) — South Korean airlines are expected to suffer huge losses from the coronavirus outbreak that has sent demand for international air travel into a free fall. The Korea Civil Aviation Association recently estimated that the local aviation industry’s losses from the fast-spreading disease may snowball to slightly over 5 trillion [...]