SEOUL, May 14 (Korea Bizwire) — Korean Air Lines Co., South Korea’s largest carrier, said Friday its first-quarter net losses narrowed from a year earlier as its increased cargo deliveries offset the pandemic-caused slump in passenger travel. Net losses narrowed to 56.08 billion won (US$49.7 million) in the first quarter that ended on March 31 [...]
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 [...]
SEOUL, March 31 (Korea Bizwire) — Korean Air Co., South Korea’s largest airline, said Wednesday it plans to launch a merged entity with its smaller rival Asiana Airlines Ltd. in 2024 after completing a takeover process next year. Korean Air, which announced plans to acquire the debt-ridden Asiana for 1.8 trillion won (US$1.6 billion) in [...]
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 [...]
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 [...]
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 [...]
SEOUL, Jan. 18 (Korea Bizwire) — Korean Air Lines Co. announced that it had made a set of exclusive name tags using a dismantled aircraft, a first in South Korea. The country’s top flag carrier recently sold through its mileage mall the name tags made in April. The name tags were made using the skin [...]
SEOUL, Jan. 6 (Korea Bizwire) — Korean Air Lines Co., South Korea’s biggest carrier, said Wednesday it will extend the expiration dates of mileage that expired at the end of 2020 and mileage that expires at the end of 2021 to 2022 amid the coronavirus pandemic. In June, Korean Air already extended mileage points due [...]
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 [...]
SEOUL, Dec. 16 (Korea Bizwire) — Korean Air Lines Co. and its labor union have agreed to freeze wages and put 70 percent of employees on furlough in the first half of 2021 to ride out the fallout of COVID-19, officials said Wednesday. About 70 percent of 12,600 employees at South Korea’s largest air carrier [...]