Korean Air’s USD9 billion spending spree

The South Korean carrier Korean Air is reportedly ready to spend some USD9 billion over the next 10 years in an effort to upgrade its international image. According to the BBC News website, the carrier will spend two thirds of that amount on a fleet of new aircraft, including Boeings and Airbus jets, while the rest will be spent on “an image makeover”. The carrier, which is the world’s 15th-largest, failed to make a profit last year because of the Sars outbreak but believes it is now on the up. It has recently joined the SkyTeam alliance, along with such high-profile carriers as Air France, Delta Air Lines and Alitalia and, according to the BBC, last year agreed to buy nine Boeing 777s and up to eight Airbus A-380s. Report by Tim Gillett, News From Abroad