South Korea’s domestic airlines are facing increasing concerns that the airline industry’s financial crisis could worsen as the second wave of COVID-19 infections spreads quickly around So…
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Hong Kong government to bail out Cathay Pacific
As reported by SCMP, Cathay’s restructuring package marks the first time the Hong Kong government has directly injected money into a private company.…
Korean airline industry reports its first quarter 2020 results
As widely expected, airlines in Korea suffered badly in the first quarter as a result of the collapse in travel demand with the coronavirus pandemic.…
Korean Air’s profits to suffer in first quarter of 2020
Korean Air is projected to report an operating loss of over 200 billion won (US$163 million) in the first quarter for the first time in seven years.…
Korea reports low number of air passengers in March
South Korea saw a record-low number of air passengers in March due to the novel coronavirus pandemic.…
Taiwan’s China Airlines stops selling duty-free cigarettes
China Airlines (CAL) spokesman confirmed that the carrier stopped selling duty-free cigarettes on its planes.…
Cathay Pacific confirms interest to acquire Hong Kong Express
This month, rumors in the industry said that Cathay Pacific was interested in taking minority stakes in HNA Group carriers HK Express and Hong Kong Airlines.…
Seven & I to close 40 Ito-Yokado supermarket stores
Japanese retail giant Seven & I Holdings Co., Ltd. said on Friday its Ito-Yokado Co. supermarket chain will shut down 40 unprofitable stores, or about 20 percent of its stores, over the next few y…
