Korean Air posted a third quarter revenue of KRW 4.2408 trillion (US$3.213 billion), an increase of 10% year-on-year. This growth was underpinned by successful capacity expansion during the summer peak season and optimised cargo operations, particularly in the e-commerce sector.
Passenger business revenue grew 2% year-on-year to KRW 2.6173 trillion in the third quarter. This performance reflects successful yield management through strategic capacity deployment on high-demand routes during peak periods, such as summer vacation and the Chuseok holiday, along with proactive efforts to attract premium class passengers.
The airline’s cargo business posted a revenue of KRW 1.1198 trillion, representing a 22% year-on-year increase. Despite typical seasonal headwinds, the business leveraged ongoing growth in China’s e-commerce sector to achieve strong results.
In Q4 2024, Korean Air aims to strengthen its market position through targeted initiatives. The passenger business will expand its Southeast Asian network to capture winter demand and implement revenue diversification measures. The cargo division will maintain an agile approach to market dynamics, particularly regarding U.S.-China relations and maritime market fluctuations, while focusing on maximising opportunities during the peak year-end season.
Korean Air appoints new country managers for Thailand, Vietnam
Korean Air has appointed In Sung Hwang as its new country manager for Thailand, bringing over two decades of extensive aviation experience to one of the airline’s key Southeast Asian markets. Hwang began his career with Korean Air in 2001 at the Busan Passenger Office before moving to the Passenger Planning Division in 2003, where he spent six years developing strategic initiatives for the airline’s passenger operations.
His international experience includes an assignment at the Ho Chi Minh City Sales Office in 2009, followed by five years in the Corporate Strategy Division where he played a crucial role in shaping the airline’s business direction. In 2015, he provided operational support at the Manila Sales Office before joining the Southeast Asia Regional Headquarters in Kuala Lumpur, in 2016. Prior to his current appointment, Hwang served as General Manager of Cabin Planning from 2017 to 2022, where he led comprehensive cabin service strategies. Most recently, he headed the Passenger Planning Team from 2023 to early 2024, overseeing network development and capacity planning.
Korean Air also announced it has appointed Kyoung Hee Kang as its new regional manager for Vietnam, who brings over 25 years of aviation industry experience to this key market. Kang, who joined Korean Air in 1997, is a seasoned airline manager with extensive experience across multiple strategic roles within the company. She assumes this position following her role at Korean Air’s Regional Headquarters in Korea, where she served as the Head of Sales Management Group. Throughout her career at Korean Air, Kang has held several senior positions, including roles in passenger sales, human resources development, and regional operations. Her previous appointment at the Regional Headquarters of Southeast Asia, where she oversaw operations in Singapore and Malaysia, has provided her with comprehensive knowledge of the regional market.
For Editorial Inquiries Contact:
Editor Matt Driskill at matt.driskill@asianaviation.com
For Advertising Inquiries Contact:
Head of Sales Kay Rolland at kay.rolland@asianaviation.com
