Latest news with #AsianaAirlines
Yahoo
11-07-2025
- Business
- Yahoo
Korean Air quarterly cargo revenue falls amid volatile U.S. tariffs
SEOUL (Reuters) -Korean Air reported on Friday a fall of 4% in cargo revenue for the second quarter of its financial year, pointing to market volatility stemming from U.S. tariff policies. South Korea's largest airline is also one of Asia's largest cargo carriers and has benefited in recent years from rising volumes of e-commerce out of China. Its cargo revenues rose 14% on the year in the corresponding quarter last year, and have risen on an annual basis every quarter since, which the airline said was driven by the rising e-commerce volumes. Air cargo shipment volume to the United States from Asia fell by double digits in May since the U.S. scrapped a tax-free exemption for low-value packages from China early that month, Reuters reported, with e-commerce shipments hit hard. "The airline navigated market volatility caused by U.S. tariff policies by diversifying its product offerings and focusing on high-yield cargo," Korean Air said in a statement. Semiconductors, batteries, solar cells, and seasonal perishables were among such items, it added. Quarterly revenue was stable from the corresponding quarter last year, Korean Air said, at 4 trillion won ($2.9 billion) but operating profit fell 3.5% despite lower fuel prices, on rising expenses such as personnel and depreciation costs. It became one of Asia's biggest carriers after completing a $1.3-billion acquisition of rival Asiana Airlines last year. ($1=1,375.1600 won) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
11-07-2025
- Business
- Reuters
Korean Air quarterly cargo revenue falls amid volatile U.S. tariffs
SEOUL, July 11 (Reuters) - Korean Air ( opens new tab reported on Friday a fall of 4% in cargo revenue for the second quarter of its financial year, pointing to market volatility stemming from U.S. tariff policies. South Korea's largest airline is also one of Asia's largest cargo carriers and has benefited in recent years from rising volumes of e-commerce out of China. Its cargo revenues rose 14% on the year in the corresponding quarter last year, and have risen on an annual basis every quarter since, which the airline said was driven by the rising e-commerce volumes. Air cargo shipment volume to the United States from Asia fell by double digits in May since the U.S. scrapped a tax-free exemption for low-value packages from China early that month, Reuters reported, with e-commerce shipments hit hard. "The airline navigated market volatility caused by U.S. tariff policies by diversifying its product offerings and focusing on high-yield cargo," Korean Air said in a statement. Semiconductors, batteries, solar cells, and seasonal perishables were among such items, it added. Quarterly revenue was stable from the corresponding quarter last year, Korean Air said, at 4 trillion won ($2.9 billion) but operating profit fell 3.5% despite lower fuel prices, on rising expenses such as personnel and depreciation costs. It became one of Asia's biggest carriers after completing a $1.3-billion acquisition of rival Asiana Airlines ( opens new tab last year. ($1=1,375.1600 won)
Yahoo
11-07-2025
- Business
- Yahoo
Korean Air quarterly cargo revenue falls amid volatile U.S. tariffs
SEOUL (Reuters) -Korean Air reported on Friday a fall of 4% in cargo revenue for the second quarter of its financial year, pointing to market volatility stemming from U.S. tariff policies. South Korea's largest airline is also one of Asia's largest cargo carriers and has benefited in recent years from rising volumes of e-commerce out of China. Its cargo revenues rose 14% on the year in the corresponding quarter last year, and have risen on an annual basis every quarter since, which the airline said was driven by the rising e-commerce volumes. Air cargo shipment volume to the United States from Asia fell by double digits in May since the U.S. scrapped a tax-free exemption for low-value packages from China early that month, Reuters reported, with e-commerce shipments hit hard. "The airline navigated market volatility caused by U.S. tariff policies by diversifying its product offerings and focusing on high-yield cargo," Korean Air said in a statement. Semiconductors, batteries, solar cells, and seasonal perishables were among such items, it added. Quarterly revenue was stable from the corresponding quarter last year, Korean Air said, at 4 trillion won ($2.9 billion) but operating profit fell 3.5% despite lower fuel prices, on rising expenses such as personnel and depreciation costs. It became one of Asia's biggest carriers after completing a $1.3-billion acquisition of rival Asiana Airlines last year. ($1=1,375.1600 won) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India.com
21-06-2025
- Business
- India.com
Asiana Flight To Tokyo Turns Back Due To Suspected Engine Issue
New Delhi: An Asiana Airlines flight bound for Tokyo returned to Incheon, west of Seoul, around one hour after departure on Saturday following the detection of an engine issue, the company said. The OZ108 flight, which had departed for Narita International Airport from Incheon International Airport at 6:49 p.m., landed at Incheon at around 7:42 p.m. under relevant safety procedures, according to the company. There were no injuries reported among the 263 passengers aboard, it added, reports Yonhap news agency. Smoke reportedly occurred after a spark appeared on one side of the engine. Asiana Airlines is inspecting the A330-300 aircraft to determine the exact cause of the incident, such as whether there was an engine issue or a bird strike. The company plans to replace the aircraft and operate an alternative flight for passengers at 4:30 a.m. Sunday, in consideration of the nighttime landing and takeoff curfew hours at Narita. Meanwhile, South Korea's antitrust regulator said last week that it has rejected a proposed mileage integration plan submitted by Korean Air Lines Co. and Asiana Airlines Inc., citing insufficient details and consumer benefit concerns. The Fair Trade Commission (FTC) said the plan, submitted earlier in the day as part of the carriers' broader merger plan, failed to meet the standards necessary to proceed with a formal review. "There were shortcomings in the proposed mileage redemption plan compared to what Asiana Airlines previously offered," the FTC said. "In terms of the proposed mileage integration ratio and other explanations, we found the submission insufficient to initiate a full assessment." The FTC requested Korean Air to immediately revise and supplement the proposal before resubmitting. The regulator declined to disclose the details of the proposal, noting that it is considering holding consultations with stakeholders and experts at an appropriate time after revisions are made. Public attention has been focused on the mileage integration ratio, a key component of the plan. Flight miles are earned through actual air travel or accumulated via credit card spending, hotel partnerships and other non-flight activities.
The Star
10-06-2025
- Business
- The Star
Cambodia tourism minister suggests additional South Korean air links
PHNOM PENH: Cambodia has requested that Asiana Airlines explore the possibility of operating flights between South Korea and the Kingdom's Siem Reap and Preah Sihanouk provinces. At present, the Seoul-headquartered airline flies to Phnom Penh. Prior to the outbreak of the Covid-19 pandemic, the airline served Cambodia's two provincial international airports. This proposal was raised by Minister of Tourism Huot Hak, during a June 5 meeting with Park Jongman, vice-CEO and head of Passenger Affairs at the airline, in Seoul. During the meeting, Hak expressed his appreciation for the company's contribution to providing safe and comfortable air transport services between Cambodia and South Korea. He urged the airline to consider expanding its direct flights to Siem Reap and Preah Sihanouk, which are both considered popular tourist areas in Cambodia. 'We requested continued assistance and suggested examining the possibility of further expansion through direct and regular flights to Siem Reap and Preah Sihanouk provinces, which are popular tourist destinations, to provide a level of convenience to Korean and other international guests and investors travelling to Cambodia,' he said. Sinn Chanserey Vutha, spokesperson for the State Secretariat of Civil Aviation (SSCA), told The Post on June 9 that the authorities are constantly working to attract more international airlines and foreign visitors to Cambodia. 'We welcome all airlines wishing to fly to Cambodia. The country is fully prepared to receive flights as well as tourists and foreign investors coming to visit Cambodia,' he said. On Sept 9, the new Techo International Airport will commence operations. The facility is a 'Greenfield' airport, meaning it was built on area that was previously undeveloped land, in this case, 2,600 hectares in Kandal province, about 19km south of Phnom Penh. A 4F-category airport, it was designed to accommodate large aircraft such as the Airbus A380-800 and Boeing 747-800. The airport is being developed in three phases, Phase 1 (2020–2030) will handle 15 million passengers per year, Phase 2 (2030–2050) will see capacity grow to 30 million and Phase 3 (after 2050) will reach 45 million. - The Phnom Penh Post/ANN
