South Korea’s second-largest airline, Asiana Airlines agreed to sell its cargo business and pave the way to a merger with its larger compatriot, Korean Airlines on 2rd November 2023. The carrier has a cargo fleet of 11 B747Fs, three of which are leased, and a 767 freighter. Asiana found itself heavily in debt after Covid-19 battered air travel, prompting its largest creditor, state-owned Korea Development Bank, to inject KRW3.6trn ($2.7bn) of public funds to keep the airline afloat. The government then began pushing for Korean Airlines to take over Asiana. Korea Development Bank said this would give South Korea a single, competitive national...
KOREAN AIR WILL FULLY TRANSIT TO ELECTRONIC AIR WAYBILLS IN THE UPCOMING TIME
Korean Air is beginning to move towards electronic air waybills (e-AWB) for all shipments to create efficiencies in the shipping process. The carrier said that initially e-AWBs would replace paper documents for general cargo departing from Korea bound for North America, Europe, Japan and “other select markets”. The airline will mandate e-AWB for Korea-outbound cargo starting from January 2024, and plans to expand the digital transition for all Korean Air Cargo departing from all global stations in due course. Whereas paper air waybills require in-person visits for documentation, printing, and submission, the digital transition will streamline the entire process from reservations to...