Orient Aviation Daily Digest November 6, 2020
A look at the week
By Jordan Chong
Although Korean Air's (KAL) latest financial report showed a hefty net loss for the three months to September 30, the airline did register a second consecutive quarterly operating profit due to the performance of its cargo business.
KAL said cargo demand was up 17.3% in the quarter, while capacity was 1.9% higher. As a result, the cargo load factor rose to 80.8%.
The bright spot for cargo could not offset the severe drop in passenger demand, with the third quarter net loss worse than a year ago.
International Air Transport Association (IATA) figures, published this week, showed global revenue passenger kilometres (RPK), declined 72.8% in September. It was a slight improvement from the 75.2% fall in August, but IATA director general and CEO, Alexandre de Juniac said airlines had "hit a wall in the industry's recovery". Read More »
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News
Asia-Pacific reports largest regional drop in international RPKs in September
Asia-Pacific carriers suffered the largest fall in demand for international air travel in September as travel restrictions in response to COVID-19 suppressed demand, figures from the International Air Transport Association (IATA) showed. Read More »
News
Korean Air posts third quarter net loss, reports continuing sluggish passenger demand
Announcing a net loss of 385.9 billion won (US$305.8 million) for its third quarter, to September 30, Korean Air (KAL) this week forecast passenger demand would remain depressed until the end of the year. Read More »
News
While the bottom line result was a net loss for KAL, the airline posted an operating profit of 7.6 billion won for the three months to September 30, down 94% from 117.9 billion won a year earlier. Read More »
News
Singapore Airlines opens its staff training academy to third party customers
Singapore Airlines (SIA) said this week it would open its training facilities to outside customers, offering short courses in areas such as customer service, innovation and digital programs. Read More »
News
Some 48% of respondents to an Airports Council International (ACI) World survey said they were likely to travel in the next three months. Read More »
People
Harpreet A De Singh started as CEO of Air India's wholly-owned subsidiary, Alliance Air, this week. Singh, previously Air India's executive director of flight safety and a former pilot with the national flag carrier, is the first female CEO of an Indian airline. Read More »
Short Takes
Thai Airways International (THAI) this week listed 34 aircraft for sale, with bids due by November 13. Read More »
