Air Busan, a South Korean airline, has released its 3Q 2024 financial results, reporting an 8.6% increase in sales, which reached $178 million. However, the airline saw a decline in operating profit, down 13.3% to $26.6 million for the quarter. The mixed results indicate strong revenue growth but also highlight challenges in maintaining profitability amid fluctuating operating costs and market pressures.
Asiana Airlines, a major carrier based in South Korea, has expanded its cargo fleet with the addition of a Boeing 747-400F, serial number 30765. This new freighter is equipped with CF6-80C2B1F engines, manufactured by General Electric, known for their reliability and performance in long-haul freight operations. The B747-400F will bolster Asiana’s cargo capacity, supporting the airline’s logistics network across Asia and…
South Korean airline Air Premia is currently facing internal tensions between its two largest shareholders, AP Holdings and the Daemyung Sono-JC Partners consortium. The disagreement centers on whether to pursue a capital increase within the year, an issue that could significantly impact the company’s financial trajectory and future development.
Korean Air reported its 3Q 2024 financial results, showcasing a notable increase in revenue despite a decline in net profit. The airline’s revenue grew by 9.8% year-over-year, reaching $3.0 billion. However, net profit took a downturn, decreasing by 34.8% to $200.7 million, a reflection of various market and operational challenges.
Dubai Aerospace Enterprise (DAE), a leading global aircraft leasing company based in the UAE, has announced the signing of lease agreements with South Korea’s Eastar Jet for three Boeing 737-8 aircraft. These aircraft are scheduled for delivery in mid-2025 and the first quarter of 2026, enabling Eastar Jet to expand its fleet with the latest…
Jeju Air, South Korea’s largest low-cost carrier, has reported a 5.4% increase in sales for the third quarter of 2024, totaling $335.2 million. However, the airline experienced a significant 59% decline in net profit, which fell to $31.3 million. The mixed results highlight the challenges Jeju Air faces in balancing revenue growth with profitability amid…
The Supreme Court of South Korea has ruled that Eastar Jet is responsible for the collapse of its merger with Jeju Air, ordering substantial damages to be paid to Jeju. According to the court’s decision, Eastar Jet must pay Jeju Air 10 billion Korean won, and Daedong Investment, another involved party, is required to pay…
Hyundai Glovis, a major shareholder in South Korea’s Air Incheon, is set to evaluate its preemptive acquisition rights for the airline. This decision will be made based on Air Incheon’s advancements in operational improvements, the profitability of Asiana Cargo, and planned aircraft replacements, all of which are key indicators of the airline’s future potential and…
AP Holdings, a major shareholder of South Korean airline Air Premia, has announced a board meeting with the objective of solidifying its management rights within the airline. This move underscores AP Holdings’ intent to exercise greater influence over Air Premia’s strategic direction and operational management as the airline seeks to expand its presence in the…
Aero K, a low-cost airline based in South Korea, has announced the launch of a new route connecting Seoul Incheon International Airport to Kaohsiung, Taiwan. Starting from January 2, 2025, the airline will operate this route with an Airbus A320, marking a significant step in expanding its regional network.
