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Indiaexportnews.com

Korean Air sees freight losses ahead

  13.02.2012    

Korean Air must take a long view and increase its freighter capacity despite the prospect of continuing cargo declines, said senior vice president Walter Cho.
"We're looking at a hard, tough year," Mr Cho said, after latest figures from IATA showed global cargo volumes dropped for the eighth consecutive month and Asia Pacific-based carriers experienced profit declines of 69 per cent.
The carrier has received one of each of its seven Boeing 747-8Fs, used on its long-haul flights to destinations such as the US, and five Boeing 777Fs due for delivery up to 2018. "I thought it was a good time to expand, because everybody else is shrinking," he added.
The second largest freight carrier, second to Hong Kong's Cathay Pacific, in the world has been damaged by falling demand from the troubles in the eurozone and US unemployment impacting consumer need for Asian-made goods shown in a decline of eight per cent, according to the Shipping Gazette. 


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