Korean Air
Boeing and Korean Air announce order for two additional 737-900ER aircraft
Boeing and Korean Air today announced an order for two additional Next-Generation 737-900ER (extended range) jetliners. The new airc4raft will be fitted with the new Boeing Sky Interior and the order is valued at $171.6 million at Boeing list prices.
“The Next-Generation 737-900ER complements Korean Air’s fleet of more than 80 Boeing airplanes,” said Marlin Dailey, vice president of Sales and Marketing, Boeing Commercial Airplanes. Read more
Korean Air places order for ten Bombardier CSeries CS300 aircraft
Korean Air has placed a firm order with Bombardier Aerospace for ten CS300 aircraft, making Korean Air the launch customer for the CSeries aircraft in Asia. Read more
Korean Air receive first Boeing 737-900ER, 30th Boeing 777
Boeing and Korean Air celebrated two milestone deliveries this month, beginning with the airline’s 30th 777, a 777-300ER (extended range) and its first Next-Generation 737-900ER (extended range). The latter marks the airline’s first 737 with the new Boeing Sky Interior. Read more
Tokyo and Hong Kong first flight routes for Korean Air A380
Korean Air has announced that its Airbus A380 launch schedule between Seoul and Tokyo and Hong Kong will start on 1st June. The tickets are now on sale.
The airline will begin its Airbus A380 service between Tokyo/Narita and Seoul/Incheon on 1st June, with the flight leaving Incheon International Airport at 10:10 a.m. Once the aircraft returns to Seoul/Incheon, the plane will then depart for Hong Kong that afternoon. Read more
Korean Air’s operating profit hits record high
Korean Air, South Korea’s flagship airline, announced today its financial results for the third quarter of 2010 ended September 30, 2010. Korean Air’s quarterly operating profit hit a record, sustaining a strong growth momentum during the record period. Read more
Korean Air - Number one Global Cargo Airline six years in a row
New IATA statistics have shown that Korean Air maintained and improved top traffic records in 2009 despite the global challenges that have been affecting the industry.
According to World Air Transport Statistics compiled by the International Air Transport Association (IATA) Korean Air topped the global rankings for commercial airline cargo operations for the sixth consecutive year securing first place, and also ranked the 13th for commercial airline international passenger operations in 2009.
During 2009, Korean Air recorded 8.225 billion FTK (Freight Tonne-Kilometres), topping the chart for International Scheduled Freight Tonne-Kilometres, followed by Cathay Pacific (7.722 billion FTK) and Lufthansa (6.660 billion FTK). Korean Air attained the number one spot for the first time in 2004 and has consistently been one of the world’s top three freight carriers since 1993.
For passenger operations, Korean Air was ranked 13th in the chart of International Scheduled Passenger-Kilometres by recording 52.086 billion RPK (Revenue Passenger-Kilometres) in 2009, from 17th (51.321 billion RPK) in 2008.
The airline has achieved the top result for the last six years in a number of ways. New market developments and excellent service management are two of the key drivers. Eying high-potential growth in the Central Asia market, Korean Air has been developing the Navoi International Airport, positioning the airport as a logistics hub for Central Asia and expanding its global cargo network. For more prompt and efficient operations, Korean Air has operated its freighter fleet of mainly B747-400F aircraft, and continued to boost customer satisfaction through rigid quality control.
In order to enhance its global competency in passenger operations, Korean Air has continued to pursue change and innovation by expanding its global network, securing increasing transit demand and upgrading in-flight facilities. By 2014, Korean Air will have a fleet of more than 100 premium aircraft equipped with state-of-the-art new seats serving its mid and long-haul route, including environmentally- friendly next generation aircraft such as 10 Airbus A380s and 10 Boeing Dreamliner 787 aircraft.
Korean Air introduces traditional Korean 'Templestays'
Korean Air and sister company Hanjin Travel are for the first time offering overseas visitors the chance to experience a traditional Korean ‘Templestay’. Already popular with domestic visitors those coming from overseas can now experience the Korean Buddhist culture as part of a programme designed to highlight the art of Seon meditation. The 24-hour overnight visit and 2-3 hours brief visit to the five most renowned Korean temples across the country allows participants the opportunity to relax, reflect and revitalise themselves, and find their ‘true self’, in the peaceful temple surroundings. Read more
Video: Korean Air promote Sydney and 20 years flying to Australia
To celebrate 20 years of flying to Australia, Korean Air launches a new series of TV commercials in Korea to strengthen its tourism ties with Australia. This commercial is featuring Sydney.
httpv://www.youtube.com/watch?v=XJMhUweeKB0
Video: Korean Air celebrate 20 years flying to Australia with new commercials
To celebrate 20 years of flying to Australia, Korean Air launches a new series of TV commercials in Korea to strengthen its tourism ties with Australia.
This commercial is featuring Kangaroo.
httpv://www.youtube.com/watch?v=8FeXTvg7JL8
Korean Air reports highest Q1 profits - passengers and cargo growth
Korean Air have announced today its preliminary results for the first quarter of 2010 ended March 31, 2010. Korean Air recorded the highest ever operating profit numbers for the first quarter.
Thanks to the surging growth in international passenger business and Korea-outbound traffic, as well as the rising demand for premium class services in the first quarter of 2010, the airline posted an operating revenue of 2,599 billion KRW, a year-on-year increase of 14.8%, while operating profit recorded a historic jump of 33.3 times to 220.2 billion KRW. Income before tax turned to the black from a loss of 673.9 billion KRW in Q1 2009 to a surplus of 226.9 billion KRW during the reporting period. International passenger and cargo businesses remained the major revenue contributors for the airline in Q1, accounting for 55% and 33% of the operating revenue respectively.
International Passenger Business
The airline posted overall growth of 1.8% and 14.4% in international passenger capacity and traffic compared to the corresponding period last year, reaching 18,386 million ASK and 14,153 million RPK respectively. Thanks to the rebound of the global economy in the reporting period, the demand for premium class services rose sharply, up 22% year-on-year, and became a significant contributor to profit. Moreover, the airline saw a steady pickup of transit passenger volume since 2008, which also facilitated the overall surge in profitability.
Attributable to the faster recovery of the economy in China and South East Asia compared to other parts of the world, travel demand also saw a quicker rebound in these regions. Korean Air saw 16% and 27% growth respectively on these routes during the reporting period. A stronger Korean Won in Q1 2010 also led to an increase in Korea-outbound traffic.
Cargo Business
Demand for world cargo rose steadily as reflected in a significant improvement in the performance of Korean Air’s cargo business in the first quarter of 2010. Capacity and traffic increased by 10.8% and 21.1% to 3,001 million AFTK and 2,315 million FTK respectively. Revenue generated from this segment posted a year-on-year increase of 57%, with China and Japan routes reaching new heights and exceeding their performance in 2008, a year when worldwide cargo business was substantial. Moreover, cargo revenue generated from Korea surged markedly by 134%, attributable to the increasing exports of Korean IT companies.
2010 Operational Environment & Outlook
Korean Air expects 2010 will be a thriving year for the aviation industry, driven by the positive operating environment both domestically and internationally. International air traffic demand is expected to be boosted by the rebound of the global economy, together with international events such as the 2010 World Expo and the 2010 World Cup. Passenger traffic from China should benefit from the increase in US visa issuing posts in the country. Favorable factors in Korea such as a stable dollar exchange rate, US visa waiver program influence, and the G20 Summit to be hosted in Seoul should also be positive for Korean Air in the year to come.
Apart from passenger traffic, world cargo business is also expected to prosper in 2010, thanks to the healthy export of IT products (such as LCD, semi-conductor and cell phone), high growth of intra-Asia demand, the introduction of economic partnership and trade agreements between Korea and India and the EU, and stability in the US exchange rate and fuel costs. The airline expects to see double-digit growth in its operating revenue and cargo business in 2010. Korean Air sees the cargo business as a strong growth driver in 2010, and will continue its concerted efforts to maximize the profitability of this business segment through a range of initiatives.
With competitive, renovated next generation aircraft with new premium seats, Korean Air will continue its efforts to strengthen its premium class service, and will introduce new fleet with enhanced fuel, maintenance and environmental efficiency. In terms of fleet size, Korean Air targets to operate 132 aircraft in 2010 (126 as of March 2010). The airline has also announced orders to add Boeing 787s and Airbus 380s to its fleet mix in the coming years.
With the turnaround of the aviation industry, Korean Air has set high goals for the coming ten years, with a target of reaching 140 geographical destinations, 20 million in passenger traffic and 2.5 million tons of cargo carried in 2019, the airline’s 50th anniversary year. Korean Air will continue its long-standing commitment to achieving “Excellence in Flight” and optimizing its business while aiming to provide the best quality to its customers.
