RoK airlines to focus on profitability, investments this year. (Photo: Yonhap News)Seoul (VNA) – Airlines of the Republic of Korea (RoK) will focus onincreasing profits and making aggressive investments in fleets this year tobetter absorb rising travel and cargo demand, according to the RoK news agencyYonhap.
Full-service carriers such as Korean Air Lines Co. and Asiana Airlines Inc.have drawn up their business plans focusing on profitability. Low-cost carrierssuch as Jeju Air Co. and Jin Air Co. plan to acquire more planes to supportrapid growth.
Korean Air plans to add 18 new planes - 10 CS300 aircrafts, four B787-9s andfour B777-300ERs - to its fleet this year. Moreover, its joint venture withDelta Airlines, which awaits approval from authorities, will allow the Koreanflag carrier to serve more cities in the United States and Asian countries, acompany spokesman said.
Asiana Airlines said it will focus on strengthening services on long-haulroutes to Europe and the US, with a plan to add two A350 planes on thoselucrative routes.
The country's two biggest passenger carriers are scheduled to announce theirfull-year earnings results for 2017 in late January or early February.
The country's six low-cost carriers -- Jin Air, Jeju Air, Air Busan Co., AirSeoul Inc., Eastar Jet and T'way Air Co. -- achieved stellar growth last yeardue to rising demand for low-cost outbound travel.
They plan to continue to beef up their fleets this year to absorb customersmainly on short-haul routes to Guam, Japan and other Asian countries.
In 2016, the six budget carriers transported 19.6 percent of all passengerstravelling abroad. The figures were up from 14.6 percent a year earlier,according to the transport ministry.-VNA
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