Gerald A
27th May 2008, 07:59 AM
Will Korean downgrade to A330s for the Sydney flights ???
May 26, 2008
Korean Air said on Monday it plans to cut some passenger flights from June to mid-July to cope with surging jet fuel prices.
Korean Air, the world's number 1 cargo carrier, said it also plans to adjust routes based on demand and earnings and may hedge its fuel costs.
"We will reduce slack routes and flights which are expected to slow down," a company official said asking not to be identified.
Korean Air will cut flights on 12 routes, suspend five routes and change planes on four routes.
The plans come as fuel prices hit a record high on Monday. Prices have jumped 57 percent so far this year.
Korean Air swung to a larger-than-expected quarterly net loss in the first quarter, hit by higher fuel costs.
In the first three months of the year, the company used 1.3 percent more fuel from a year ago while fuel costs, its single-biggest cost item making up 30 percent of its operating expenses, jumped 49 percent.
(Reuters)
Gerald
May 26, 2008
Korean Air said on Monday it plans to cut some passenger flights from June to mid-July to cope with surging jet fuel prices.
Korean Air, the world's number 1 cargo carrier, said it also plans to adjust routes based on demand and earnings and may hedge its fuel costs.
"We will reduce slack routes and flights which are expected to slow down," a company official said asking not to be identified.
Korean Air will cut flights on 12 routes, suspend five routes and change planes on four routes.
The plans come as fuel prices hit a record high on Monday. Prices have jumped 57 percent so far this year.
Korean Air swung to a larger-than-expected quarterly net loss in the first quarter, hit by higher fuel costs.
In the first three months of the year, the company used 1.3 percent more fuel from a year ago while fuel costs, its single-biggest cost item making up 30 percent of its operating expenses, jumped 49 percent.
(Reuters)
Gerald