Korean Air on survival mode
Korean Air has warned its employees against the threat coronavirus poses to its survival. Korean Air is the national airline of Korea consisting of 146 passenger aircrafts serving 150 destinations worldwide from its hubs at Seoul-Incheon, Seoul-Gimpo and Busan.
How has coronavirus affected Korean Air ?
Korean Air has grounded more than 90 aircrafts of its fleet and has cut more than 80% of its international capacity while asking its employees to take voluntary leave. In a memo sent by Korean Air President – Woo Kee Hong he has said “If the situation continues for a longer period, we may reach the threshold where we cannot guarantee the company’s survival” as seen by Reuters. Korean Air has also grounded its entire A380 fleet of 10 aircrafts until April 25. Korean Air continues to operate to former A380 routes such as to Paris, Los Angeles and New York but has replaced them with smaller aircrafts due to lower demand.
What does the future hold for Korean Air ?
The airline industry has seen sharp decline in the number of passengers due to the effects of the outbreak and travel restrictions placed. On top of lowering demand there are also existing cancellations which has forced airlines to use smaller planes on routes where large aircrafts were used. With this being said its president Woo Kee Hong remains resilient and says the airline has been through tough times and continue to stand strong in this scenario.