Jeju Air, a major South Korean low-cost carrier, faces leadership turbulence as its CEO, Kim E-bae, has been barred from leaving the country. The travel ban, imposed by the investigation team, is part of an ongoing inquiry into undisclosed matters concerning the airline’s operations or management.
Jeju Air, a leading South Korean low-cost carrier, has secured approximately US$95 million in cash to strengthen its financial position. This move follows a significant drop in reservations after a recent Boeing 737-800 crash involving another airline, which has raised safety concerns among travelers.
Jeju Air (South Korea) is bracing for increased financial challenges following the crash of one of its B737-800 aircraft. The incident has placed additional strain on the airline’s cash flow, already burdened by advance payments for airline tickets, which currently stand at approximately US$176.8 million.
Air Incheon, South Korea’s dedicated cargo airline, has appointed Kim Kwan-sik as its new Chief Executive Officer (CEO). This strategic appointment aims to leverage Kim’s extensive financial expertise to facilitate the airline’s acquisition of Asiana Airlines’ cargo business, a move set to position Air Incheon as a leading player in the nation’s air cargo industry.
Jeju Air, a leading low-cost carrier from South Korea, has filed plans to launch nonstop flights between Seoul Incheon and Singapore, starting 30 March 2025. The route will be operated using a Boeing 737-800, catering to the rising demand for direct connectivity between the two cities.
Asiana Airlines, based in South Korea, has announced plans to repay $976 million in loans from creditor banks earlier than initially scheduled. This significant financial move is expected to reduce the airline’s debt ratio by more than 1000%, marking a major step in its financial restructuring efforts.
Korean Air has announced its plan to complete the integration of Asiana Airlines within the next two years, following the successful acquisition of a 63.88% ownership stake in its subsidiary. This acquisition marks a significant milestone in Korean Air’s strategic expansion and consolidation in the South Korean aviation market.
Aero K (South Korea) has announced an ambitious expansion of its international operations, with plans to introduce multiple new routes in early 2025. These new routes aim to connect key South Korean cities to various destinations across Asia, reflecting the airline’s commitment to broadening its network and serving a growing customer base. Starting from early 2025,…
Korean Air is set to officially finalize its acquisition of a controlling stake in Asiana Airlines (South Korea) today. This strategic move will see Korean Air invest $1.07 billion to purchase a 63.9% stake in Asiana through a third-party share issuance, marking a significant milestone in the consolidation of South Korea’s aviation industry.
Korean Air has cleared the final regulatory hurdle in its acquisition of Asiana Airlines (South Korea) by securing approval from the US Department of Justice (DOJ). With this milestone, Korean Air is set to finalize the transaction by 11 December 2024.
