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Old July 24th, 2008, 11:07 PM   #61
kjoey
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Airbus, Rolls-Royce seal Asiana deal


FARNBOROUGH: South Korea's Asiana Airlines has signed a contract with Airbus to buy 30 A350 XWB aircraft, with options for 10 more.

And Rolls-Royce has announced it will supply Trent XWB engines for the planes, in a deal worth about $2.4 billion, if the options are exercised.

Delivery of the aircraft will begin in 2016 and the airline will take a combination of all three variants of the A350. The carrier will operate the aircraft on its regional and long haul routes.

“The A350 will play a key role in the Asiana fleet of the future,” said Park Chan-Bup, vice chairman and CEO of Asiana Airlines. “In placing this order today, we are ensuring that we will remain at the forefront of the airline industry, offering our passengers the very highest levels of comfort while operating only the most modern, fuel-efficient aircraft.”

The Rolls-Royce deal means Asiana will be the first Korean customer for the Trent aero engine.

Rolls-Royce says this is the first time it has been chosen as an engine supplier by Asiana Airlines, although the airline operates a number of Airbus A320 and A321 aircraft powered by the V2500 engine, in which Rolls-Royce is a major shareholder.

Young-Doo Yoon, executive VP of Asiana Airlines, said the advanced technologies and high operational efficiency of the Trent XWB would make it an outstanding addition to the fleet. "We are also focused on improvements to our environmental profile, and there is no doubt that this latest Trent will make a significant contribution in that area.”

Mark King, president, civil aerospace, with Rolls-Royce, added: “We look forward to establishing a valuable, long-term relationship with Asiana Airlines, which has a deserved reputation as an innovative and forward-looking carrier. Korea represents an important market for Rolls-Royce and I am delighted that we are able to expand our interests in Korea through this first Trent selection.”

The first Trent XWB is scheduled to begin ground testing in 2010 and will make its maiden flight on the new Airbus twinjet in 2012.

http://www.aviationrecord.com/news-a...&articleId=857
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Old July 27th, 2008, 06:00 AM   #62
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Korea allocates new frequencies

Korean Air Cleared to Begin Direct Flights to Israel
SEOUL, July 25 Asia Pulse - A South Korean airline is expected to open a direct route to Israel around October that will greatly reduce the flight time to the Middle Eastern country, the South Korean government said Friday.

The Ministry of Land, Transport and Maritime Affairs said Korean Air, the country's largest airline, has been given permission to launch three weekly passenger flights and one cargo service to Israel.

In the past all travellers and air cargo going to Israel from South Korea had to fly to Europe or Turkey and board connecting flights. Such detours took over 20 hours compared to just under 12 hours for a direct flight.

Israel is a popular travel destination for many people around the world because of its many religious holy sites.

The ministry, also said that Korean Air and Asiana have been authorized to operate a total of eight flights to Uzbekistan in Central Asia, which is undergoing rapid economic growth. At present only chartered flights are available to Tashkent, making it hard for the airline to lower fares.

Asiana, meanwhile, has been allowed to begin two regular flights per week to Kazakhstan that will replace irregular chartered operations.
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Both Korean Air and Asiana have been given permission to increase flight services to Russia, the United Arab Emirates, Nepal and Hong Kong, as part of the government's efforts to allow airlines to attract more passengers.

The increase of 32 weekly flights is the result of aviation talks held with foreign countries, the ministry said.

http://asia.news.yahoo.com/080725/4/3mn0h.html

Korea has distributed new weekly frequency allocations to Korean Air and ASIANA AIRLINES after concluded new bilateral deals with 5 countires.

Korean Air is being rewarded the following:
Israel - 3 weekly passenger and 1 weekly cargo flight(s)
Uzbekistan - 3 weekly passenger flights
Hong Kong - Additional 1250 passenger seats and 200 tonnes of cargo service
Nepal - 1 extra frequency
Russia - 1 weekly cargo flight

ASIANA AIRLINES is being rewarded the following:

Uzbekistan - 1 extra weekly passenger flight (Total up to 5 weekly)
Kazakhstan - Additional up to 500 seats of capacity per week
Hong Kong - Additional 1250 passenger seats and 254 cargo tonnes service per week
UAE - 3 weekly passenger flights
Russia - 4 weekly cargo flights
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Old July 29th, 2008, 07:27 PM   #63
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Alaska Airlines and Horizon Air Partner With Korean Air

SEATTLE, July 28, 2008 /PRNewswire-FirstCall via COMTEX/ -- Travelers in the Pacific Northwest will have better access to Asia because of a new partnership between Korean Air and Alaska Airlines and Horizon Air. The carriers have entered into a codeshare agreement and expanded frequent flier partnership that will allow members to earn and redeem miles in either Korean Air's SKYPASS or the Alaska Airlines Mileage Plan program.

Customers can take advantage of the new partnership from Korean Air's West Coast gateways of Seattle, Los Angeles and San Francisco, with connecting flights from other points throughout the Pacific Northwest. The agreement starts August 1, and customers can begin earning and redeeming miles starting Sept. 3.

"This new codeshare agreement will significantly benefit customers traveling from the Pacific Northwest and California to Asia and other international destinations, taking advantage of Korean Air's extensive network," said Brad Tilden, Alaska Airlines' executive vice president of finance and planning and chief financial officer. "Customers will be able to purchase a single ticket, check bags only once and enjoy convenient connections to their final Korean Air destination, while also earning Mileage Plan frequent flier miles."

This is the fifth partnership that Korean Air shares with U.S. carriers.

"Our new partnership will solidify Korean Air's leadership in the trans-Pacific market from the Pacific Northwest," said John Jackson, Korean Air's director of sales and marketing for the Americas. "This fills out our North American network and complements our partnerships with other U.S. airlines," Jackson added. "Alaska Airlines, along with its sister carrier Horizon Air, is the leader in the western United States, and we know this partnership will provide significant benefits for both airlines' passengers."
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Old July 31st, 2008, 01:39 AM   #64
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Korean Air Considers Additional Flight Cuts

July 30, 2008

Korean Air said on Wednesday it was considering additional cuts in flights during September and October, to cope with higher fuel prices.

"Every year, we adjust flights for September and October, a usual off-season. But the flight cuts for this year are likely to be slightly bigger than previous years on higher fuel costs," said company spokesman Lee Seung-yeol.

Korean Air, the world's No. 1 cargo carrier, has however not made any final decision yet, Lee added.

The company had cut some passenger flights from June to mid-July.

The reductions came as jet fuel prices have jumped almost 40 percent so far this year.

Asian airlines are facing a massive hit to earnings as soaring fuel costs and dwindling demand for travel create turbulence that has already bankrupted some small carriers.

Korean Air is expected to post its first quarterly operating loss in five years due to higher oil prices and slower demand.

(Reuters)
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Old August 6th, 2008, 09:17 PM   #65
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Korean Air pilots agree to first wage freeze

SEOUL (AFP) - Korean Air pilots have agreed to their first-ever wage freeze to help the country's main flag carrier improve profitability, officials said Wednesday.

The freeze was approved Tuesday at a meeting of unionised pilots who agreed to withdraw their initial request for a 3.3 percent pay increase, the company said.

Korean Air has about 2,000 pilots, some 1,300 of whom are unionised. The rest of the non-pilot workforce agreed to a wage freeze in March.

It was the first voluntary wage freeze by pilots since they formed a union in 1999.

"The union has unconditionally withdrawn its request for a pay increase as the company faces a worsening business environment due to a rapid increase in fuel prices," the company said in a statement.

Korean Air's sales rose to 8.71 trillion won (8.59 billion dollars) last year from 8.08 trillion won in 2006 while net profit fell to 10.7 billion won from 344.7 billion won.

In the first quarter of this year, it posted a net loss of 325.5 billion won compared to a profit of 130.8 billion won a year earlier.

Korean Air officials say the company is expected to post a second-quarter loss. Jet fuel prices have jumped nearly 80 percent in a year.
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Old August 6th, 2008, 10:06 PM   #66
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Korean Air Schedules Changes during Autumn Season

Europe

KE941/942 Seoul(Incheon) – Tashkent
As of September 2 New Operation: 3 flights/week

KE957/958 Seoul(Incheon) – Tel Aviv
As of September 25 New Operation: 3 flights/week

Southeast Asia
KE629/630 Seoul(Incheon) – Denpasar Bali
September 27 ~ October 25 current : 4 flights/week -> revised : 7 flights/week

KE671/672 Seoul(Incheon) – Kuala Lumpur
September 3~ October 25 current : 5 flights/week -> revised : 7 flights/week

China
KE819/820 Seoul(Incheon) – Changsha
As of October 1 current : 4 flights/week -> revised : 5 flights/week

Japan
KE783/784 Busan – Fukuoka
As of September 1 current : 7 flights/week -> revised : 14 flights/week

KE789/790 Seoul(Incheon) – Fukuoka

As of September 1 current : 4 flights/week -> revised : 7 flights/week

North America
KE001/002 Tokyo(Narita) – Los Angeles
October 2~October 25 current : 7 flights/week -> revised : 3 flights/week

KE023/024 Seoul(Incheon) – San Francisco
As of September 8 current : 7 flights/week -> revised : 4 flights/week

KE025/026 Seoul(Incheon) - Seattle
As of September 28 current : 4 flights/week -> revised : 3 flights/week

KE031/032 Seoul(Incheon) - Dallas
As of September 14 current : 4 flights/week -> revised : 3 flights/week

KE051/052 Seoul(Incheon) – Honolulu
As of September 8 current : 7 flights/week -> revised : 6 flights/week

KE8071/8072 Seoul(Incheon) – Vancouver
September 7: Not operated

KE8073/8074 Seoul(Incheon) – Toronto
September 6: Not operated

Europe
KE8927/8928 Seoul(Incheon) - Rome
August 30 ~ October 25 current : 4 flights/week -> revised : 3 flights/week

KE935/936 Seoul(Incheon) – Prague
October 14 ~ October 25 current : 4 flights/week -> revised : 3 flights/week

KE925/926 Seoul(Incheon) – Amsterdam
As of September 17 Routes combined to Seoul(Incheon) – Amsterdam – Madrid (KE925/926) 3 flights/week

Oceania
KE123/124 Seoul(Incheon) – Brisbane
September 3 ~ October 25 current : 5 flights/week -> revised : 3 flights/week

KE121/122 Seoul(Incheon) – Sydney
September 1 ~ October 25 Routes combined to Seoul(Incheon) –Sydney - Melbourne (KE121/122) (Seoul(Incheon) – Sydney : 7 flights/week, Sydney – Melbourne : 3 flights/week)

KE113/114 Seoul(Incheon) – Guam
September 3 ~ October 25: Not operated

Southeast Asia
KE635/636 Busan – Manila
September 2 ~ October 25 current : 4 flights/week -> revised : 2 flights/week

KE657/658 Daegu – Bangkok
September 1 ~ October 25 current : 4 flights/week -> revised : 2 flights/week

KE687/688 Seoul(Incheon) – Siem Reap
September 1 ~ October 25 current : 6 flights/week -> revised : 4 flights/week

China

KE833/834 Seoul(Incheon) – Shenyang
As of October 4: Not operated

KE837/838 Seoul(Incheon) – Yantai

As of October 1 current : 7 flights/week -> revised : 4 flights/week

KE847/848 Seoul(Incheon) – Jinan
September 2 ~ October 25 current : 3 flights/week -> revised : 2 flights/week

KE863/864 Seoul(Incheon) – Tianjin
As of September 6: Not operated

Japan

KE791/792 Seoul(Incheon) – Oita
September 3 ~ September 30 current : 3 flights/week -> revised : 2 flights/week

<Temporary suspension>
America
KE009/010 Seoul(Incheon) – Las Vegas
September 2 ~ October 25: Temporarily suspended

Europe
KE929/930 Seoul(Incheon) – St.Petersburg
As of September 16: Temporarily suspended

Southeast Asia
KE685/686 Busan - Hanoi
September 1 ~ October 25: Temporarily suspended

KE695/696 Seoul(Incheon) – Kathmandu
September 4 ~ October 1: Temporarily suspended

China
KE859/860 Daegu- Beijing
September 1 ~ October 25: Temporarily suspended

Last edited by kjoey; August 6th, 2008 at 10:13 PM.
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Old August 15th, 2008, 07:59 PM   #67
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Japan / Korea new bilateral deal

Japan and Korea this week concluded new bilateral deal

*Tokyo Haneda
Daytime Slots
Starting October 2010, carriers from each side can operate up to 6 Daily on the Tokyo Haneda - Seoul Gimpo route
  
There will also be 2 Daily flights permitted to operate Tokyo Haneda - Busan

Night Time/Early Morning Slots
Up to 2 Daily from Tokyo Haneda to any destination in Korea

*Osaka Kansai - Seoul Gimpo
Up to 2 Daily service is permitted starting 2008/09 Winter schedule
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Old September 1st, 2008, 09:47 PM   #68
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South Korean Carriers Hit By Drop In Won

September 1, 2008

South Korean airline shares tumbled on Monday, hit by the rapidly weakening won, as investors dumped the stocks on fears of snowballing losses from foreign currency debt and fuel imports.

Korean Air, the country's top airline and also the world's biggest air cargo carrier, dropped 15 percent to close at 33,000 won as the won hit its weakest level against the dollar in almost four years.

Asiana Airlines dropped 10.6 percent to 3,970 won, leading the wider market's 4.1 percent loss.

"The won currency's rapid weakness seen today is a blow to both airlines," said Shin Min-seok, an analyst at Daewoo Securities. Shin estimates foreign currency debt at Korean Air at USD$5.3 billion.

Korean Air, which incurred KRW273 billion (USD$248 million) in currency-related losses in the second quarter alone, said it was hedging up to 30 percent of its net dollar costs and trying to increase dollar revenues.

Normally, Korean Air would see dollar spending exceeding income by USD$2 billion a year, the company said in a statement.

Asiana also said it was aware of currency risks and had a long-standing hedging program in place.

"Recently there are growing concerns that the airline industry would see a sharp drop in profits and large losses over foreign currency debt, due to high oil prices and the stronger dollar (versus the won)," Asiana said in a statement.

"We will be able to keep our operations solid with strength in risk management and an expected rise in air travel demand."

Asiana said it saw a KRW68.5 billion gain from hedging deals in the first half, which helped it offset much of its KRW83.2 billion currency-related losses.

(Reuters)
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Old September 3rd, 2008, 06:32 AM   #69
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Quote:
Originally Posted by kjoey View Post
Airbus, Rolls-Royce seal Asiana deal


FARNBOROUGH: South Korea's Asiana Airlines has signed a contract with Airbus to buy 30 A350 XWB aircraft, with options for 10 more.

And Rolls-Royce has announced it will supply Trent XWB engines for the planes, in a deal worth about $2.4 billion, if the options are exercised.

Delivery of the aircraft will begin in 2016 and the airline will take a combination of all three variants of the A350. The carrier will operate the aircraft on its regional and long haul routes.

“The A350 will play a key role in the Asiana fleet of the future,” said Park Chan-Bup, vice chairman and CEO of Asiana Airlines. “In placing this order today, we are ensuring that we will remain at the forefront of the airline industry, offering our passengers the very highest levels of comfort while operating only the most modern, fuel-efficient aircraft.”

The Rolls-Royce deal means Asiana will be the first Korean customer for the Trent aero engine.

Rolls-Royce says this is the first time it has been chosen as an engine supplier by Asiana Airlines, although the airline operates a number of Airbus A320 and A321 aircraft powered by the V2500 engine, in which Rolls-Royce is a major shareholder.

Young-Doo Yoon, executive VP of Asiana Airlines, said the advanced technologies and high operational efficiency of the Trent XWB would make it an outstanding addition to the fleet. "We are also focused on improvements to our environmental profile, and there is no doubt that this latest Trent will make a significant contribution in that area.”

Mark King, president, civil aerospace, with Rolls-Royce, added: “We look forward to establishing a valuable, long-term relationship with Asiana Airlines, which has a deserved reputation as an innovative and forward-looking carrier. Korea represents an important market for Rolls-Royce and I am delighted that we are able to expand our interests in Korea through this first Trent selection.”

The first Trent XWB is scheduled to begin ground testing in 2010 and will make its maiden flight on the new Airbus twinjet in 2012.

http://www.aviationrecord.com/news-a...&articleId=857

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Old October 22nd, 2008, 06:08 AM   #70
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Macau: Korean Air to resume flights to Macau

Korean Air plans to resume flights between Seoul and Macau in 2009, a local aeronautical source said.

According to the source, Korean Air is planning three weekly flights on Boeing 737s from Incheon International Airport, resuming a route that was suspended in 1998 because of the Asian economic crisis.

Reintroducing flights to Macau is part of Korean Air's expansion plans for 2009, with an increase in flights to Thailand, the Philippines, mainland China, Taiwan and Hong Kong.

Kong Dong, chairman of Air China, which controls a majority of Air Macau, said last week that Air Macau should also look at the South Korean market. In Kong Dong's opinion, the South Korean and Japanese markets can help Air Macau out of its current financial crisis.

Early this year the Macau and South Korea aviation authorities agreed to increase scheduled flights by Macau's airlines to South Korean cities.

Currently, flights between Macau and Korea include a daily scheduled flight by Air Macau between Macau and Seoul and regular charter flights by Viva Macau between Macau and Pusan and Muan International Airport, in Gwangju.

In the first eight months of this year, Macau received 212,549 tourists from Korea, an increase of 50 percent versus the same period in 2007.
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Old October 24th, 2008, 05:48 AM   #71
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what about new KE Flight to Milan, Italy?
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Old November 3rd, 2008, 07:13 PM   #72
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Air Busan to Enter Budget Air Market


By Kim Rahn
Staff Reporter

Air Busan is all ready to enter the nation's budget air travel market, with the first service being scheduled Monday.

As an affiliate of Asiana Airlines, the Busan-based carrier is expected to take advantage of the parent company's know-how on operation and management.

It will operate two 127-seat B737-500 aircraft for the Busan-Seoul route nine times a day starting Oct. 27. It will adopt one more plane soon and provide five daily services between Busan and Jeju starting Dec. 1, and two additional flights by June next year.

Asiana, the full-service carrier, will stop operation on the routes and have a code-sharing operation with Air Busan. Code-sharing is an agreement through which an airline sells seats on another carrier's flights under its own name ― meaning, those who make reservations with Asiana on the routes will board Air Busan's planes.

It is the first code-sharing in Korea between a low cost carrier and a full-service airline. It is part of efforts by both airlines to increase domestic operation profits, a market in which existing carriers are suffering losses amid fierce competition and low demand.

"Asiana's boarding rate on flights between Busan and Jeju was 70 percent and those between Busan and Seoul, 60 percent. Through code-sharing, we expect the rates to go up to 80 percent and it will help both Asiana and Air Busan make profits,'' an Asiana official said.

Passengers of Air Busan can select their seats when making a reservation online. The airfare for the Busan-Seoul route was set at 52,400 on weekdays and 64,000 won on weekends, and those purchasing tickets online can get 10 percent discount on weekdays and 5 percent, on weekends.

Air Busan recently made public its aircraft and crew uniform.

In navy blue, light blue, lime green and white colors, the plane has the carrier's logo on the tail, which consists of a seagull, sea wave and sky.

The uniform, in blue, focuses on giving comfort to wearers and adds to young and lively image of the airline.

[email protected]








Pics from Seoul Gimpo Airport
http://www.flyfreesky.com/







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Old November 4th, 2008, 08:24 PM   #73
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Two Women Make Dream Come True



Hong Soo-in, right, and Shin Soo-jin, Korean Air pilots, show thumbs-up gesture in front of an aircraft at the airline's hangar, western Seoul, Tuesday. They became Korea's first female civil aviation pilots.



1st Female Pilots Born in Korean Civil Aviation

By Kim Rahn
Staff Reporter

Two women became pilots Tuesday for the first time in the 60 years of Korean civil aviation history. They are Shin Soo-jin, 39, and Hong Soo-in, 36, who have worked at Korean Air as copilots.

They became pilots for the B737 airplane after passing the qualification test organized by the Civil Aviation Safety Authority Monday.

They are the only women among the nation's 1,700 pilots.

``I'm so glad that I've achieved my longtime dream,'' Shin said. Hong also said she was happy to have completed the tough training course and passed the test.

Both Shin and Hong joined Korean Air in 1996. Shin became the first female copilot for a MD-82, a small-size aircraft, and for a jumbo jet B747-400 in 2001.

Hong entered the Korea Aerospace University, but majored in information and telecommunication engineering, not flight operation, a major which allowed only men at that time in 1995. ``The school said the flight operation department would select females a few years later, so I decided to enter the school first and change my major later,'' she said.

As a person in charge of every stage of flight, strict qualifications are required for a pilot: more than 4,000 hours of flying experience including 350 landings, at least five years of experience after becoming a copilot, certificates for aviation radio communication and aviation English, as well as special education and training.

Shin has 4,483 hours of flying experience, and Hong, 5,533 hours. Despite their careers, they had to undergo harsh training for the last five months to prepare for the qualification test. At the last test Monday, they flew between Seoul and Ulsan, carrying examiners who tested their ability to cope with an emergency.

``As we did, junior female pilot-hopefuls will have to undergo tough challenges. I believe in their capability,'' Shin said.

Both of them said that airplanes are operated by high-tech devices, not by physical strength, so women, usually more meticulous than men, have an advantage.

As of September, there were 1,826 copilots in Korea, with Korean Air having five females including Shin and Hong, and Asiana Airlines, four.

Shin and Hong will have their maiden flight as pilots on Nov. 15. ``I want to contribute to the development of civil aviation through safe operation,'' Shin said. ``I want to carry passengers as comfortably as possible until I retire,'' Hong said.

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Old November 5th, 2008, 05:49 PM   #74
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ASIANA now plans Daily NYC in Summer 09
As per Amadeus timetable display on 03NOV08, ASIANA now plans to increase Seoul - New York service from 4 weekly to Daily from 30MAR09.

The new service, Day 136 from Seoul, is planned to be operated by 3-class Boeing 777. However the extra frequencies are currently not available for sale.

ASIANA originally planned the Daily flight in September 2008 but postponed till November, and then cancelled completely due to recent economy turmoil.


ASIANA new 3-class 777 to Shanghai

As per ASIANA AIRLINES' inventory in the GDS, it plans to operate brand new 3-class 777-200ER (dubbed 77C/773) on selected Seoul - Shanghai service starting 06DEC08.

The 77C is to operate on OZ361/362 on Day 6 only


ASIANA new 777-200 Cabin configuration

ASIANA is introducing new Boeing 777-200ER configuration. As previous post (777 to Chicago) mentioned, the new 777 is in 3-class configuration.

Configuration and layout are the following:

77C/773 F8 C28 Y226

77C - long-haul flights
773 - regional flights


First Class
Row 1-2
Layout 4 across, 1-2-1 or 2-2
COT Ahead of Row 1

Business Class
Row 5-6 , 7-8
Layout AC-DEG-HK
Notes

* Lavatories is behind Row 6
* Galley is between Row 6-7
* The Emergency exit is assumed to be between Row 6-7

Travel Class
Row 10 - 24 (Except 13), 25-37
Layout 3-3-3
Wing Section Rows 12-28
Exit Row 25
Exceptions No Seat 24ABC/24HJK/25DFG/36B/36J/37ABC/37HJK
Notes

* Lavatories & Galleys in between Row 24/25
* Lavatories also behind Row 37
* COT Section is at the middle-3 between Row 28/29


ASIANA 777 to Chicago

Starting 29NOV08, ASIANA is to operate Boeing 777 aircraft on the Seoul - Chicago route

The 777 appears to be a new configuration, F8C28Y226, internal code is 77C.
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Old November 13th, 2008, 10:32 PM   #75
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Korean Air launch Seoul Gimpo - Osaka Kansai from Dec 08
Korean Air from 01DEC08 is starting Daily Seoul Gimpo - Osaka Kansai service onbaord A330-300 aircraft.

KE2725 GMP0900 - 1045KIX 333 D
KE2726 KIX1155 - 1345GMP 333 D

ASIANA to start Seoul Gimpo - Osaka Kansai in Dec 2008

ASIANA is launching Seoul Gimpo - Osaka Kansai service starting 01DEC08 with A330. This is the newly-revised launched date after it was supposed to begin on 26OCT08.

OZ1125 GMP0840 - 1020KIX 330 D
OZ1115 KIX1130 - 1330GMP 330 D
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Old November 14th, 2008, 05:22 AM   #76
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do the KE Jumbos have PTVs?
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Old November 14th, 2008, 11:46 AM   #77
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Korean Air has biggest loss in 10 years on fuel, won
B14-11-2008:- y Seonjin Cha



SEOUL: Korean Air Lines Co, South Korea's largest carrier, posted its biggest loss in 10 years as it paid more for fuel and a weak won inflated foreign-denominated debt.

The 684.1 billion won (RM1.77 billion) loss in the three months ended September compared with net income of 129.6 billion won a year earlier, the Seoul-based carrier said in an e-mailed statement today. Sales rose 16% to 2.76 trillion won.

Korean Air joins Cathay Pacific Airways Ltd and domestic rival Asiana Airlines Inc in reporting a loss after the average price of jet kerosene, the carriers' biggest cost, jumped 64% from the year-ago quarter. The won's 13% decline against the US currency raised the value of dollar-denominated debt and made overseas travel more expensive for Koreans.

"The won, fuel -- everything was unfavorable for Korean Air last quarter," said Park Chang Suk, who manages about US$430 million equity assets at NH-CA Asset Management Co in Seoul. "It's disappointing that the company showed such poor results during the season when demand peaks."

Korean Air had a second consecutive operating loss of 25.1 billion won, compared with an operating profit of 281.4 billion won a year earlier, the statement said. Operating profit is defined as sales minus the cost of goods sold and administrative expenses.

The airline fell 1.8% to 32,300 won as of 11:26 a.m. in Seoul, compared with the benchmark Kospi index's 0.2% gain. The carrier has lost 58% this year.

Korean Air booked 905.6 billion won of losses after converting its foreign-currency debt of US$5.3 billion (RM19.08 billion) and ₯35 billion (RM1.3 billion) to won, the statement said.

The won dropped 2.3% to 1,391.50 per dollar yesterday in Seoul, according to Seoul Money Brokerage Services Ltd. The won has weakened 33% this year, making it Asia's worst-performing major currency.

Jet kerosene increased last quarter to average US$142.60 per barrel, compared with US$87.08 a year earlier, according to data compiled by Bloomberg. Fuel prices have more than halved since their peak in July and traded at US$72.45 per barrel in Singapore yesterday.

"The slide in oil price is somewhat positive," NH-CA Asset's Park said. "Still, for the airline industry, demand decides everything. Given the current economic slowdown, it's hard to expect air travel or cargo demand to rebound soon."

Korean Air spent 1.26 trillion won on jet fuel in the third quarter, 83% more than a year earlier, the statement said. The weaker won also boosted its dollar-paid fuel bill, according to the company.

Domestic passenger traffic dropped 3.1% in the third quarter, while international passenger traffic was unchanged, Korean Air said. Cargo traffic fell 9.5% on reduced services, it said. International travel demand departing from Korea dropped 15% during the last quarter, it added.

"Given current economic conditions, air travel demand will continue to slow down during the fourth quarter," and weak cargo demand will likely continue through the end of this year, Korean Air said.

The carrier filled 74.2% of available seats on international flights last quarter, 0.8 percentage point less than a year earlier and packed 74.1% of cargo space, 0.2 percentage point lower, it said.

South Korea's economy grew at the slowest pace in four years last quarter and a state-run Korea Development Institute on Nov. 12 forecast the economy to expand 3.3% next year, the weakest pace in five years.

No Asian airline will be profitable next year due to the fallout from the global economic crisis, the Centre for Asia Pacific Aviation said last month.

Asiana Air, South Korea's second-biggest carrier, Air China Ltd, China Southern Airlines Co, and China Eastern Airlines Corp, the country's three biggest airlines, and Jet Airways (India) Ltd all reported losses in the quarter ended September. -- Bloomberg

http://www.bloomberg.com/apps/news?p...d=a3KP1u5PeDis
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Old November 14th, 2008, 05:47 PM   #78
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JAL to Launch Kansai-Gimpo Flights in January

Tokyo, Nov. 13 (Jiji Press)--Japan Airlines plans to begin flights to connect Kansai International Airport near Osaka, western Japan, and Gimpo International Airport in Seoul in January 2009, in anticipation of strong demand from business passengers, Jiji Press learned Thursday.

JAL will offer a round-trip flight on the route while reducing the number of daily flight services on its existing route between the Kansai airport and Incheon International Airport near Seoul to two from the current three, sources familiar with the matter said.

More and more business travelers are expected to opt for Kansai-Gimpo flights as the Gimpo airport is closer to the city center of Seoul than the Incheon airport, the sources said.

JAL made the decision also in view of strong demand for its flight services between Tokyo International Airport at Haneda and the Gimpo airport,

JAL will be the first Japanese airline to offer Kansai-Gimpo flights.

In August, the Japanese and South Korean governments agreed on the start of Kansai-Gimpo services.

Two South Korean airlines, Korean Air and Asiana Airlines, have already decided to launch one round-trip flight each to link the Kansai and Gimpo airports in December.

Quote:
Originally Posted by kjoey View Post
Korean Air launch Seoul Gimpo - Osaka Kansai from Dec 08
Korean Air from 01DEC08 is starting Daily Seoul Gimpo - Osaka Kansai service onbaord A330-300 aircraft.

KE2725 GMP0900 - 1045KIX 333 D
KE2726 KIX1155 - 1345GMP 333 D

ASIANA to start Seoul Gimpo - Osaka Kansai in Dec 2008

ASIANA is launching Seoul Gimpo - Osaka Kansai service starting 01DEC08 with A330. This is the newly-revised launched date after it was supposed to begin on 26OCT08.

OZ1125 GMP0840 - 1020KIX 330 D
OZ1115 KIX1130 - 1330GMP 330 D
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Old November 21st, 2008, 06:43 AM   #79
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Korean Air CM with Han Hyo-Ju

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Old November 22nd, 2008, 03:20 AM   #80
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do the KE Jumbos have PTVs?
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