Korean Air Warns It Could Collapse

Real World Aviation
#1

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"Could Collapse"

Take this with a massive grain of salt.

Korean Air president Woo Kee-hong warns that the continuous effects of the coronavirus threatens Korean Air’s survival.

Korean Air’s president stated 80% of the airline’s international capacity had been cut due to travel restrictions, compared to a 18% cut made during the 1997-1998 Asian financial crisis.

Woo Kee-hong’ statement:

“We can easily imagine the severity of the crisis we are facing in comparison. And what is more daunting is that the situation can get worse at any time and we cannot even predict how long it will last.”
“But if the situation continues for a longer period, we may reach the threshold where we cannot guarantee the company’s survival.”

So far, Korean Air has grounded around 100 out of 145 aircraft, cut down on investments and operational expenses, asked employees to take voluntary leave, and more.

Sources

Image by Korean Air.
https://www.aerotime.aero/aerotime.team/24659-korean-air-fears-collapse-due-to-coronavirus
https://skift.com/2020/03/09/korean-air-warns-that-coronavirus-could-put-it-out-of-business/

Imagine what South Korea’s Asiana Airlines is going through with their past financial problems…

If Korean Air collapses (not saying it will), that would be devastating for South Korea.

In 2018, Korean Air had a 33% market share for domestic flights and a 30% market share for international flights in/to/from South Korea.

This could be the largest airline collapse of the past decade…

34 Likes
#2

Whoa! I never expected this!

4 Likes
#3

By the way dude, you are absolutely amazing with how much you do for this catagory, it’s like every day you have 5 really well made topics that are super interesting

21 Likes
#4

Well there goes another one. Hopefully not tho!

1 Like
#5

Thanks, I enjoy it and it helps me take my mind off of stressful things such as a 1,000 word essay that’s due tomorrow and I haven’t started 🙃

12 Likes
#6

This would be absolutely crazy! It’s like if Lufthansa or United or something were to go down.

So, couldn’t airlines just temporarily not fly but still be in business? That sounds too simple to be true though…

1 Like
#7

Ah, i have one due Wednesday that I pretty much need to start too, but priorities man, priorities

1 Like
#8

I can probably get you an essay if you need it 😏

Unless it’s handwritten or I don’t know anything about the subject, lol

1 Like
#9

I can get you one too :)

#10

We don’t need another airline to collapse because of a disease…😣
Korean is an all around good airline too…

#11

What exactly does that mean?

1 Like
#12

I know right

#13

(Dun dun dun) Another one bites the dust (dun dun dun) another one bites the the dust. And another one gone, another one gone, another one bites the dust.

Fat F if this goes through.

3 Likes
#14

four people replying at once

Sorry I sound like such a noob sometimes, lol

3 Likes
#15

Actually it’s about how the FAA and the Air Force worked together during 9/11, but back to the topic lol.

Don’t expect it to actually happen (imo)

1 Like
#16

Tru that we don’t need another one biting the dust…

1 Like
#17

Ah, okay. Yeah, I don’t expect it to happen either.

1 Like
#18

You never know…( I don’t want it to happen tho)

#19

I’m pretty sure Korean Air is partially state-owned. The Government should be stepping in soon to pump money into Korean Air to keep it going.

4 Likes
#20

Did not expect this, one question, what about Chinese airlines and other airlines that rely on China for most of their destinations? Just a curious honest question

1 Like