The airline will operate three weekly flights between Seoul Incheon and Lisbon on Wednesdays, Fridays and Sundays. These flights will make a total of 20 round trips during the two months, serviced by the airline’s Boeing 787-9 fleet.
The scheduled charter flights are the only nonstop flights between Northeast Asia and Lisbon. Previously, travelers had to transfer in neighboring countries such as France and Spain, or switch to land transport upon arrival in Europe. The new direct flights will streamline the journey, making trips to Lisbon and its adjacent cities more accessible.
On the financial side, the airline reported the following:
Korean Air reported a first quarter revenue of KRW 3.8225 trillion (USD $2.8382 billion), an increase of 20% year-on-year, driven by the strong recovery in passenger traffic and robust cargo demand. Operating profit increased 5% year-on-year to KRW 436.1 billion (USD $323.8 million) despite higher fuel costs, airport and facility charges and labor-related costs.
Passenger business revenue increased 32% year-on-year to KRW 2.3421 trillion in the first quarter. The airline’s network capacity has almost recovered to pre-pandemic 2019 levels, with the exception of China. Profitability improved through timely capacity expansion on Southeast Asia and Japan routes, catering to the strong tourism demand.
Cargo business revenue in the first quarter declined slightly year-on-year to KRW 996.6 billion as the global air cargo market continues to stabilize.
In Q2 2024, the airline’s passenger business will prioritize route profitability amidst the expansion of global capacity and intensified competition. The cargo business will capitalize on the growing e-commerce demand from China by strengthening client partnerships and allocating capacity on key routes.
CH Aviation
Photos: KPB
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