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thekorean
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Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

Thu May 14, 2020 4:03 pm

Is it possible that how Korea dealt with Covid-19 could mean KE will be in a favorable position once traveling becomes normalized again?
 
Aither
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Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

Thu May 14, 2020 7:27 pm

thekorean wrote:
Is it possible that how Korea dealt with Covid-19 could mean KE will be in a favorable position once traveling becomes normalized again?


Yes, if they can seize this opportunity.
I also believe more than ever the reputation of the airline will be important as "trust" will be key for the passengers. I think you can't guarantee your aircraft will be covid free (who can?) but I want to feel that going into an aircraft is not more risky than going to my local supermarket.
Never trust the obvious
 
ITSTours
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Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

Thu May 14, 2020 7:46 pm

thekorean wrote:
Is it possible that how Korea dealt with Covid-19 could mean KE will be in a favorable position once traveling becomes normalized again?


If Korea had a strong domestic market, sure, but as you know it doesn't.
Indeed GMP-CJU is the busiest route but that's really the only route they can make a lot of money.
International travel will still be restricted. Both outbound and inbound.
 
ShinyAndChrome
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Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

Thu May 14, 2020 8:13 pm

thekorean wrote:
Is it possible that how Korea dealt with Covid-19 could mean KE will be in a favorable position once traveling becomes normalized again?


For what it's worth, with places like Australia/NZ talking about "travel bubbles" between themselves, South Korea could be in a decent place to establish similar bilateral relationships with other places in the region that did a good job of containing the virus early on like Taiwan, Vietnam, HK, etc. The regulatory coordination would be more difficult than ANZAC or within the EU but it's something that could take off by the end of 2020.
 
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chunhimlai
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Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

Fri May 15, 2020 2:51 am

It is time for Air Koryo to take over Korean Air And Asiana
 
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Antaras
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Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

Fri May 15, 2020 2:27 pm

chunhimlai wrote:
It is time for Air Koryo to take over Korean Air And Asiana


And PNJ would become the mega hub of East Asia region, yeeting ICN, PUS, NRT, HND, KIX, SHA and PEK into the hencoop.

A W E S O M E
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Antaras
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Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

Fri May 15, 2020 2:51 pm

thekorean wrote:
Is it possible that how Korea dealt with Covid-19 could mean KE will be in a favorable position once traveling becomes normalized again?


Have a look at Vietnam now. The virus is totally controlled inside the country, and now V-carriers is capturing their chance for a quick and effective recovery.
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LAXintl
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Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

Mon Jul 06, 2020 6:56 pm

Catering and Duty Free business divisions has reportedly been sold for US $840mil. Announcement expected July 7 after KAL board meeting.

https://www.moodiedavittreport.com/loca ... 0-million/
From the desert to the sea, to all of Southern California
 
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mercure1
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Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

Fri Jul 10, 2020 10:22 pm

Korean Air confirms planned private equity sale of inflight retail and catering arms

https://www.moodiedavittreport.com/kore ... ring-arms/
mercure f-wtcc
 
MohawkWeekend
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Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

Fri Jul 10, 2020 11:22 pm

From CNBC website -

The Trump administration released the names of the businesses that received some of the biggest federal loans for small businesses.
The loans are meant to help companies weather the impact of Covid-19.
Korean Air’s local office received $5 million to $10 million, according to government data.

If true this is wrong on so many levels. This program was for small companies that couldn't access capital markets.
    300 319 320 321 707 717 720 727 72S 737 73S 734 735 73G 738 739 747 757 762 ARJ B11 C212 CRJ CR2 CR7 CR9 CV5 D8S DC9 D9S D94 D95 D10 DH8 DTO EMB EM2 E135 E145 E190 FH7 F28 F100 FTRIMTR HRN L10 L15 M80 M90 SF3 SWM YS11
     
    Cubsrule
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    Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

    Sat Jul 11, 2020 12:02 am

    MohawkWeekend wrote:
    From CNBC website -

    The Trump administration released the names of the businesses that received some of the biggest federal loans for small businesses.
    The loans are meant to help companies weather the impact of Covid-19.
    Korean Air’s local office received $5 million to $10 million, according to government data.

    If true this is wrong on so many levels. This program was for small companies that couldn't access capital markets.


    It’s easy to say in July that they could have accessed capital markets, but it wasn’t at all clear in March that reasonably-priced money would remain available in the private market.
    I can't decide whether I miss the tulip or the bowling shoe more
     
    MohawkWeekend
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    Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

    Sat Jul 11, 2020 2:16 am

    The program was not set up for companies worth billions. It was to help smaller companies. I'm sure the Koreans could have found funding somewhere. Even the Lakers realized it looked pretty bad and returned their ill gotten loan.
      300 319 320 321 707 717 720 727 72S 737 73S 734 735 73G 738 739 747 757 762 ARJ B11 C212 CRJ CR2 CR7 CR9 CV5 D8S DC9 D9S D94 D95 D10 DH8 DTO EMB EM2 E135 E145 E190 FH7 F28 F100 FTRIMTR HRN L10 L15 M80 M90 SF3 SWM YS11
       
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      mercure1
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      Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

      Sun Jul 19, 2020 7:23 pm

      Hanjin KAL second largest share holder KCGI opposes sale of inflight duty-free and catering business.

      KCGI say the units will be crucial for the airline future performance and is also concerned about the manner they were sold to private equity firm. KCGI says a more open auction process should have taken place to ensure maximizing their values.

      http://www.koreaninvestors.com/?p=8928
      mercure f-wtcc
       
      airhansa
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      Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

      Sun Jul 19, 2020 8:31 pm

      Korean Air would probably have the most business with China and Japan who are both at similar levels of infection rates. It is already a stopover for the transpacific flights to China and I could see that travel picking up quite soon - Japan has never wanted to be a transpacific hub.
       
      jfk777
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      Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

      Sun Jul 19, 2020 8:47 pm

      How do they feel about all those A380 they have now ? Time to park those hogs and get some 777-9's, gorgeous looking in that Korean Air Blue.
       
      jbs2886
      Posts: 2357
      Joined: Wed Apr 01, 2015 9:07 pm

      Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

      Sun Jul 19, 2020 8:51 pm

      jfk777 wrote:
      How do they feel about all those A380 they have now ? Time to park those hogs and get some 777-9's, gorgeous looking in that Korean Air Blue.


      Yes definitely time to increase capex :roll:
       
      paulduwon
      Posts: 31
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      Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

      Sun Jul 19, 2020 9:48 pm

      Is it just me, or does anyone else feel that having too many tourists-focused routes year-round has been harmful to KE?
      I've always thought it was bold that they would operate routes like ICN - PRG. BCN, VIE, ZAG, BNE, MLE, and CMB year-round (not to mention they are also trying to add BUD next summer).
      They also stopped routes like ICN - NAD and NBO, and these have been signs that they were trying to reduce losses by cutting leisure routes.
      Maybe if they keep these as seasonal operations, I don't think they would be losing as much money.
       
      strfyr51
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      Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

      Sun Jul 19, 2020 10:46 pm

      usflyer msp wrote:
      zakuivcustom wrote:
      Phoenix757767 wrote:
      Boeing use to own United if I remember correctly and didn’t Hugh’s aircraft own TWA?


      TWA was own by Howard Hughes (who also owned the namesake Hughes Aircraft), but they were separate entity.

      While reading up TWA's history (on, well, Wikipedia...so it may not be 100% accurate), though, TWA also used to own Hilton (International?) Hotels and Century 21 Realty, among other investments. For that, they were definitely similar to KE conglomerate right now.


      UAL in the 1980s , when it was known as the Allegis Corp, is the most famous attempt at a travel conglomerate in the US. They owned UA, Hertz, and the Westin and Hilton hotel chains. It is also a cautionary tale because Allegis failed miserably.

      Allegis failed because the chairman Richard Ferris overstepped! He told United Employees who made all of Allegis possible that if they didn't deliver a $ .25 on the dollar in progfit that he would cease to invest in the airline and let it whither on the vine. trouble was? We'd already seen what happened to TWA with Canteen corp.
      Ferris said that on a Thursday at the Doubletree Hotel at SFO. By the following Monday? The Pilots launched the Takeover. And Allegis was out soon Afterwards...
      Everybody treated Allegis like it was some NAZI salute! It was a joke from Minute ONE! That and "Avolar" which was their corporate jet scheme??
      That died on the vine! From that point on?? The United Pilots watched and NOW watch EVERYTHING UAL does Closely! they have a seat on the BOD as well..
       
      ZK-NBT
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      Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

      Mon Jul 20, 2020 12:32 am

      jfk777 wrote:
      How do they feel about all those A380 they have now ? Time to park those hogs and get some 777-9's, gorgeous looking in that Korean Air Blue.


      They also have 747-8I's, KE always strike me as having to many aircraft, now seems a good time to reduce some types and numbers of aircraft.
       
      zakuivcustom
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      Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

      Mon Jul 20, 2020 2:25 am

      ZK-NBT wrote:
      jfk777 wrote:
      How do they feel about all those A380 they have now ? Time to park those hogs and get some 777-9's, gorgeous looking in that Korean Air Blue.


      They also have 747-8I's, KE always strike me as having to many aircraft, now seems a good time to reduce some types and numbers of aircraft.


      KE along with TG were the joke of a.net as in they will buy 10 planes of every single type out there.

      Speaking of VLA, they still operates 2 744 AFAIK.

      airhansa wrote:
      Korean Air would probably have the most business with China and Japan who are both at similar levels of infection rates. It is already a stopover for the transpacific flights to China and I could see that travel picking up quite soon - Japan has never wanted to be a transpacific hub.


      The thing that hurt KE the most when it comes to PRC-ICN-US/Canada is that mainland carriers had been adding lots of nonstops from secondary PRC cities to US. Chinese carriers is also affecting their Japan business as PEK or PVG become more attractive for Japanese traveler looking to save a buck heading to Europe.

      All these are before the current pandemic. Nowaday TPAC from mainland is still affected due to travel restrictions (the worsening China-US relation doesn't exactly help, either).
       
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      LAXintl
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      Re: Korean Air Chairman: business conditions poor, looking to divest assets, form more JVs

      Wed Aug 26, 2020 10:22 pm

      Korean Air finalized deal to sell its inflight catering and duty-free business to Seoul-based private equity firm Hahn & Company for KRW990.6 billion won (USD834 million).
      A Korean Air board meeting approved the asset sale on August 25 before signing a “business transfer agreement” with Hahn on the same day, the company said in a statement.


      Korean Air sells inflight business for $834mn
      https://www.ch-aviation.com/portal/news ... -for-834mn

      =
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