United Kingdom
United States
Asia Pacific
Korean Air looks for premium business
HONG KONG – Korean Air ended 2007 with a full year operating revenue of 8,812 billion won and an operating income of 637 billion won, representing an increase of 9.1 percent and 28 percent respectively, mainly driven by the growth in international passenger and cargo revenue.
The strong operating performance was diluted by a sharp increase in fuel expenses and the decrease in foreign exchange gains. As a result, the net income for 2007 decreased to 11 billion won.
Jonghee Lee, president of Korean Air, said, “The soaring fuel price has imposed a great challenge for airlines around the world and in Korea, we were also affected by a disadvantageous exchange rate.
“We countered these obstacles by focusing on building our premium services and selective expansion in high-potential markets.”
International passenger traffic remained the major revenue contributor for Korean Air in 2007, accounting for 52.6 percent of total operating revenue.
Korean Air focused on premium passengers on its international routes, boosting the yield by eight percent for 2007.
Domestic passenger yield improved by 5.4 percent despite the impact of seasonality
In 2008, Korean Air will launch routes to Sao Paulo and Munich.
Related News Stories:
Ian Jarrett
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
BA pilot dies during layover
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Protestors now targeting Amsterdam cruise calls