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Korean Air Net Losses Narrow in 2020 Despite Pandemic

Korean Air Net Losses Narrow in 2020 Despite Pandemic

SEOUL, Feb. 4 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Thursday its net losses narrowed in 2020 from a year earlier, as it offset the pandemic-caused slump in passenger travel with increased cargo deliveries and enjoyed decent gains from an asset sale. Net losses narrowed to 291.45 billion won (US$260 [...]

Korean Air Turns to ‘Flights to Nowhere’ Market amid Severe Competition

Korean Air Turns to ‘Flights to Nowhere’ Market amid Severe Competition

SEOUL, Feb. 4 (Korea Bizwire) — As Korean Air Lines Co. is planning for the introduction of “flights to nowhere” packages, domestic airlines are stepping up to overcome the crisis caused by the coronavirus. The South Korea’s top airline plans to introduce a first ‘flight to nowhere’ package on Feb. 27 that will fly over [...]

Korean Air to Up Stock Sale to 3.3 tln Won for Asiana Acquisition

Korean Air to Up Stock Sale to 3.3 tln Won for Asiana Acquisition

SEOUL, Jan. 22 (Korea Bizwire) – Korean Air Lines Co., South Korea’s biggest carrier, said Friday it will raise a higher than previously planned amount by selling stocks for its planned acquisition of smaller rival Asiana Airlines Inc. Korean Air plans to sell 3.3 trillion won (US$3 billion) worth of new stocks, which is higher than [...]

Korean Air Shareholders Approve Proposal to Change Articles of Association for Asiana Takeover

Korean Air Shareholders Approve Proposal to Change Articles of Association for Asiana Takeover

SEOUL, Jan. 6 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Wednesday its shareholders approved a plan to change the company’s articles of association to help finance its planned acquisition of smaller rival Asiana Airlines Inc. In an extraordinary shareholders’ meeting, 70 percent of the Korean Air stakeholders voted for the [...]

Korean Air Ships COVID-19 Vaccine Ingredient to Europe

Korean Air Ships COVID-19 Vaccine Ingredient to Europe

SEOUL, Dec. 9 (Korea Bizwire) — Korean Air Co., South Korea’s largest carrier, said Wednesday it has shipped a COVID-19 vaccine ingredient from Incheon to Amsterdam using its cold chain logistics as it gears up for upcoming deliveries of vaccines. A passenger flight transporting a Korean company’s vaccine ingredient departed from Incheon International Airport on [...]