Latest news with #AirlineoftheYear2025
Yahoo
07-05-2025
- Business
- Yahoo
One of World's Top Airlines Announces Bad News
One of the world's top airlines is already seeing a negative impact because of the tariff wars. The CEO of Korean Air did not hold back when asked about the looming impact of the tariffs. 'We're already seeing the downturn in passenger volume between trans-Pacific (routes) and also to Europe,' CEO Walter Cho told CNN. 'It's subtle, maybe 5% compared to last year, but it has some significant impact to our business.' According to CNN, the airline could lose $50 million to $100 million a year if "passenger levels" don't pick up for the rest of the year. 'Korea's economy is in between the US and China, and we depend on both economies as well, quite a bit,' Cho said to CNN. 'We are bracing for the impact we're looking at. I don't expect this year to be great for the Korean economy, and we are looking at our costs as we speak. But I hope, I hope I'm wrong,' he added. Tariffs aren't the only culprit for sluggish passenger volume, he said, citing increased competition. According to Airline Ratings, "Korean Air won the Airline of the Year 2025 for its exceptional focus on passenger comfort, particularly in Economy Class, where it maintains industry-leading seat pitches of 33–34 inches on wide-body aircraft." The CEOS of many major companies have joined Korean Air in voicing concern about the impact of tariffs. They include companies selling household products, shoes, cars, and other items. Brand Finance reported that Korean Air's brand value has increased 33% to $2.6 billion, so there's some positive news for the company, also. Korean Air "climbed two positions to rank 17th among the world's top 50 airline brands in 2025," that site reported. Related: Beloved Toothpaste Company Delivers Bad News
Yahoo
01-05-2025
- Business
- Yahoo
One of World's Top Airlines Announces Bad News
One of the world's top airlines is already seeing a negative impact because of the tariff wars. The CEO of Korean Air did not hold back when asked about the looming impact of the tariffs. 'We're already seeing the downturn in passenger volume between trans-Pacific (routes) and also to Europe,' CEO Walter Cho told CNN. 'It's subtle, maybe 5% compared to last year, but it has some significant impact to our business.' According to CNN, the airline could lose $50 million to $100 million a year if "passenger levels" don't pick up for the rest of the year. 'Korea's economy is in between the US and China, and we depend on both economies as well, quite a bit,' Cho said to CNN. 'We are bracing for the impact we're looking at. I don't expect this year to be great for the Korean economy, and we are looking at our costs as we speak. But I hope, I hope I'm wrong,' he added. Tariffs aren't the only culprit for sluggish passenger volume, he said, citing increased competition. According to Airline Ratings, "Korean Air won the Airline of the Year 2025 for its exceptional focus on passenger comfort, particularly in Economy Class, where it maintains industry-leading seat pitches of 33–34 inches on wide-body aircraft." The CEOS of many major companies have joined Korean Air in voicing concern about the impact of tariffs. They include companies selling household products, shoes, cars, and other items. Brand Finance reported that Korean Air's brand value has increased 33% to $2.6 billion, so there's some positive news for the company, also. Korean Air "climbed two positions to rank 17th among the world's top 50 airline brands in 2025," that site reported.
