{"id":8450,"date":"2020-08-08T20:20:32","date_gmt":"2020-08-09T01:20:32","guid":{"rendered":"http:\/\/planesintheair.com\/?p=8450"},"modified":"2020-08-08T20:23:08","modified_gmt":"2020-08-09T01:23:08","slug":"freighters-to-the-rescue-korean-air-posts-q2-profit","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=8450","title":{"rendered":"Freighters To The Rescue: Korean Air Posts Q2 Profit"},"content":{"rendered":"\n
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Korean Air leveraged its cargo operation to turn a profit in the second quarter when nearly every other passenger airline has reported enormous losses after COVID-19 travel restrictions brought most flight operations to a standstill. <\/p>\n\n\n\n

The South Korean carrier has one advantage that many pure passenger airlines lack \u2013 freighters. The company said it increased the operation rate of its freighter fleet and maximized cargo supply on passenger airplanes to generate an operating profit of $123.7 million and net income of $135.3 million.<\/p>\n\n\n\n

Korean Air lost the ability to sell cargo space in the lower deck of passenger airplanes when travel demand sagged and it suspended most flights, resulting in a 92% drop in passenger revenue. The airline said it replaced that capacity by increasing the operation rate of freighters by 22% year-over-year through strict maintenance checks and oversight \u2013 increasing its total capacity by 1.9%.<\/p>\n\n\n\n

The freighter fleet consists of 23 Boeing 747-8 and 747-400 aircraft, according to the airline’s website. It ranked as the sixth-largest cargo airline in the world in 2018, according to the International Air Transport Association.<\/p>\n\n\n\n

Click the link below for the full story!<\/p>\n\n\n\n

https:\/\/finance.yahoo.com\/news\/freighters-rescue-korean-air-posts-195548132.html<\/a><\/p>\n\n\n\n

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Korean Air leveraged its cargo operation to turn a profit in the second quarter when nearly every other passenger airline has reported enormous losses after COVID-19 travel restrictions brought most flight operations to a standstill.<\/p>\n","protected":false},"author":1,"featured_media":8452,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4510,8637,10174,797,4813,7890,89,5637,4552,10701,10700,10339,5992,2203,4957,5676,10169,10617,6711,10176,1397,10173,10195,10171,868,10182,1103],"tags":[1048,63,4176,539,464,420,118,2345,160,41,1327,1293,1925,6867,10634,12177,1483,660,469,199,2454,5601,6514,2510,412,4424,1557,9406,1685,4748,1323,12176,3321,4240,3017,1699,1993,1691,1658,1916,1939],"class_list":["post-8450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aerospace-news","category-air-cargo-news","category-airline","category-airline-news","category-airplane-news","category-asia-news","category-aviation-news","category-business-news","category-cargo-news","category-coronavirus","category-covid-19","category-e-commerce","category-economic-news","category-finance-news","category-global-politics","category-international-news","category-news","category-pacifica","category-shipping-news","category-stock-news-2","category-stock-news","category-stockairline","category-transport","category-transportation","category-transportation-news","category-travel","category-travel-news","tag-1048","tag-63","tag-advantage","tag-air","tag-aircraft","tag-airline","tag-airlines","tag-association","tag-aviation","tag-boeing","tag-capacity","tag-cargo","tag-carrier","tag-checks","tag-covid-19","tag-enormous","tag-fleet","tag-flight","tag-freighters","tag-international","tag-korean","tag-leveraged","tag-losses","tag-maintenance","tag-news","tag-operation","tag-operations","tag-oversight","tag-passenger","tag-posts","tag-profit","tag-q2","tag-rate","tag-reported","tag-rescue","tag-restrictions","tag-south","tag-transport","tag-transportation","tag-travel","tag-website"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8450"}],"version-history":[{"count":1,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8450\/revisions"}],"predecessor-version":[{"id":8453,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/8450\/revisions\/8453"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/media\/8452"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}