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Biz & Tech

Airlines

Fri, January 29, 2021 | 00:28

Budget airline industry faces major changes with new players, merger

Budget airline industry faces major changes with new players, merger

Korea's low-cost carrier (LCC) industry is bracing for major changes this year as two newcomers are ready to join the market, while a giant budget airline is set to emerge through a merger between three low-cost carriers. The two new entrants are Air Premia and Aero K. According to industry sources, Air Premia is expected to receive its air operator's certificate (AOC) from t...

2021-01-27 09:13

Eastar Jet's founder's nephew arrested for embezzlement

Eastar Jet's founder's nephew arrested for embezzlement

A nephew of the founder of cash-strapped Eastar Jet has been arrested on charges of embezzlement and breach of trust, according to district prosecutors in Jeonju, North Jeolla Province, Monday.

2021-01-25 17:19

Air traffic halved in 2020 due to pandemic

Air traffic halved in 2020 due to pandemic

Air traffic volume in South Korea halved year-on-year in 2020 due to the coronavirus pandemic, government data showed Sunday. The Ministry of Land, Infrastructure and Transport said the number of flight operations last year totaled 421,000, down 50 percent from 2019.

2021-01-24 11:17

Korean Air to up stock sale to 3.3 trillion won for Asiana acquisition

Korean Air to up stock sale to 3.3 trillion won for Asiana acquisition

Korean Air, 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.

2021-01-22 17:11

Will Jin Air, Air Busan rebrand as Asiana?

Will Jin Air, Air Busan rebrand as Asiana?

Korean Air's takeover of Asiana Airlines is drawing attention to how the low-cost carrier (LCC) affiliates of the two will be integrated, with industry officials anticipating a merger of the LCCs that will be given the brand name Asiana.

2021-01-21 16:22

Korean Air's Asiana acquisition facing overseas antitrust review

Korean Air's Asiana acquisition facing overseas antitrust review

Korean Air said Thursday it has submitted documents to antitrust regulators in multiple countries, ...

2021-01-14 15:46

Ex-vice transport minister nominated as Incheon airport head

Ex-vice transport minister nominated as Incheon airport head

Kim Kyung-wook, former vice minister for transport, has been nominated as the ninth president and CEO of Incheon International Airport Corp. (IIAC) to fill the leadership vacuum following the dismissal of the previous CEO in September.

2021-01-12 12:50

Korean Air still faces obstacles to acquire Asiana

Korean Air still faces obstacles to acquire Asiana

Korean Air might have received the green light from shareholders allowing it to conduct a capital increase for its planned acquisition of Asiana Airlines but there are still numerous obstacles the airline will need to resolve.

2021-01-08 16:27

Korean Air, Asiana integration hinges on non-core businesses

Korean Air, Asiana integration hinges on non-core businesses

The looming merger between Korean Air and Asiana Airlines hinges on how the former will deal with their aviation services divisions, such as maintenance, repair and overhaul (MRO) and in-flight catering.

2020-12-27 16:57

Hanjin chairman decorated by French government

Hanjin chairman decorated by French government

Hanjin KAL Chairman Cho Won-tae has received a gold medal from the French government for his contributions to the country and its people, especially amid the crisis of the COVID-19 pandemic, according to Korean Air, a Hanjin Group affiliate.

2020-12-23 13:50

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