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S. Korea’s Full-server Carriers Tipped to Swing to Q2 Profit amid LCCs’ Struggles

S. Korea’s Full-server Carriers Tipped to Swing to Q2 Profit amid LCCs’ Struggles

SEOUL, Aug. 5 (Korea Bizwire) — Despite the coronavirus pandemic, South Korea’s two full-service airlines are expected to swing to a profit for the second quarter on increased cargo demand, industry sources said Wednesday. But seven low-cost carriers (LCCs) are widely predicted to suffer greater setbacks in the April-June period as the COVID-19 outbreak has [...]

S. Korea to Establish Airline Cooperative Next Year to Increase Sustainability

S. Korea to Establish Airline Cooperative Next Year to Increase Sustainability

SEOUL, June 24 (Korea Bizwire) — South Korea plans to establish a cooperative to empower the South Korean airline industry, which is facing a major crisis driven by the coronavirus. “We began to prepare to amend the Aviation Business Act to establish airline cooperatives and introduce flight assurance programs,” said a source from the Ministry [...]

Korean Airlines Fall Deeper into Q1 Losses on Virus Impact, Further Slump in Store

Korean Airlines Fall Deeper into Q1 Losses on Virus Impact, Further Slump in Store

SEOUL, May 15 (Korea Bizwire) — South Korean airlines, led by Korean Air Lines Co., reported their worst-ever first-quarter earnings on Friday in the face of the new coronavirus outbreak that has led to a sharp fall in demand and lockdowns around the globe, and their second-quarter performance is also dim. Korean Air said its [...]

Airlines Suspend In-flight Beverage Service on Domestic Routes

Airlines Suspend In-flight Beverage Service on Domestic Routes

SEOUL, April 16 (Korea Bizwire) — South Korean airlines said Thursday they have joined their global peers in temporarily suspending in-flight beverage service on domestic routes in a move to stem the spread of the new coronavirus. Korean Air Lines Co. and Asiana Airlines Inc., the country’s two full-service carriers, on Thursday stopped serving drinks [...]

Airlines Struggle to Tide over Virus Impact

Airlines Struggle to Tide over Virus Impact

SEOUL, April 8 (Korea Bizwire) – South Korean airlines, one of the hardest-hit industries by the outbreak of the new coronavirus, are taking unprecedented measures, such as unpaid leave, job cuts and asset sales, to overcome the COVID-19-triggered crisis, industry sources said Wednesday. Korean Air Lines Co., the country’s biggest airline, said Tuesday it will [...]