Korean Air Lines beat expectations in the third quarter with a net profit of 431.4 billion won ($302.6 million), jumping 222 percent on year due to a strong recovery is passenger traffic.
The Australian Competition and Consumer Commission (ACCC) approved Korean Air Lines' acquisition of Asiana Airlines.
Korean Air Lines will resume flights to Rome and Barcelona in September, two and a half years after they were suspended due to the pandemic.
Korean Air Lines is rebounding from the pandemic, reaching an agreement to raise employee wages by 10 percent, which were frozen for the past two years.
Korean Air Lines will acquire Hanjin KAL’s entire 54.91 percent stake in Jin Air for 604.8 billion won ($470 million), preparing to create one big budget carrier once it merges with Asiana Airlines.
Airlines are reintroducing suspended long-haul routes and upping flight frequencies as the government encourages more international flights from Incheon International Airport.
The merger of Korean Air Lines and Asiana Airlines is struggling to get approval abroad as countries worry the mega-carrier will pose a monopolistic threat to their local airlines.
Korean Air Lines beat expectations in the first quarter with a net profit of 543.9 billion won ($429.4 million), compared to a 28.8 billion won loss in the same quarter the previous year.
Korean Air Lines will temporarily stop flights to Moscow and Asiana Airlines will stop refueling there. Both are doing it because of the impossibility of getting fuel in Moscow.
Korean Air Lines has received unconditional approval from the Competition and Consumer Commission of Singapore (CCCS) for its merger with Asiana Airlines.
Korea JoongAng Daily Sitemap
