Korean Air looks to boost cargo after Q1 losses

Redployment of aircraft on the cards


cargo free trade pact high fuel prices Korean Air London Olympics losses


Keen to “focus on profitability” after the first quarter loss,Korean Air Lines has chalked out plans to redeploy its aircraft.For the three months ended March 31, South Korea’s flag carrier shifted to a consolidated net loss of KRW67.2 billion (US$59 million) from a net profit of KRW270.9 billion a year earlier, the statement said.
High fuel prices and a weak won were the main reasons for the losses. The carrier has now decided to “readjust the number of flights and kinds of planes on routes depending on demand and will focus on profitability”, it said in a statement. 
Korean Air said in the statement cargo demand will get a boost–if not a big one–from the free-trade pact with the US and the upcoming London Olympic Games.
Outbound cargo volumes–mainly to Europe and the US–declined 12 per cent in the first quarter compared with a year earlier, the carrier pointed out.