Korean Air is nearing the finalization of a major $32.7 billion agreement that will significantly expand and modernize its long-haul fleet. The memorandum of understanding (MOU) includes the acquisition of 20 Boeing B777-9 and 20 Boeing B787-10 aircraft, with options for 10 additional aircraft and up to ten spare engines.
T’way Air Co., Ltd., a prominent South Korean low-cost carrier, has announced its financial results for the year ending December 31, 2024. The airline reported sales totaling $1.0 billion, a 13.9% increase compared to the previous year. However, the company also recorded a net loss of $41.5 million, underscoring the persistent challenges faced by the aviation industry amid fluctuating…
Eastar Jet, a prominent low-cost airline based in South Korea, has successfully secured a $21 million investmentfrom SG Private Equity, a private equity firm headquartered in Seoul. This strategic infusion of capital is aimed at bolstering Eastar Jet’s efforts to expand its fleet and strengthen its operational capabilities.
Aero K (South Korea) has expanded its fleet with the delivery of one Airbus A320, bearing serial number 2612. The aircraft is on lease and is powered by CFM56-5B6/P engines, further strengthening the airline’s narrowbody fleet.
Jeju Air (South Korea) has announced its 2024 financial results, showing total revenue climbed 12.3% to $1.3 billion, reflecting strong passenger demand. However, the airline’s net profit plummeted 83.8% to $15 million, impacted by rising operational costs and economic challenges.
Jeju Air, South Korea’s leading low-cost carrier, has bolstered its fleet by acquiring a new Boeing 737-8 aircraft. This addition brings the airline’s total fleet size to 41 aircraft, including three B737-8 units received since 2023.
Jeju Air, a prominent South Korean airline, is at the center of an ongoing investigation following the recent crash of one of its Boeing 737-800 aircraft. A preliminary report has revealed the presence of duck DNA in both engines, raising questions about bird strikes as a potential contributing factor.
Air Premia, South Korea’s leading hybrid service carrier, has announced the addition of its sixth Boeing 787-9 Dreamliner, marking the airline’s first fleet expansion in over 18 months. This strategic move aligns with Air Premia’s commitment to offering premium yet essential services at competitive prices.
Kwon Do-gyun, CEO of Sirius Airlines, a South Korean carrier, has been sent to prosecution on charges of failing to pay wages to employees for a period of 8 months. This development has brought significant attention to the airline’s labor practices and financial management.
T’way Air, a South Korean low-cost carrier, is at the center of strategic business developments as its shareholder, the Daemyung Sono Group, moves to acquire management rights of the airline. This ambitious step could potentially lead to significant changes in South Korea’s aviation landscape.
