Major South Korean airlines – Korean Air and Asiana Airlines – will partially suspend services on cargo transportation by domestic flights, Report informs citing TASS.
KBS TV channel announced with reference to sources in aviation industry that this is linked to the companies’ attempts to cut spending amid lower profit. In the second quarter of the year both companies posted over $90 mln in operational losses.
Smaller airlines were also affected by worseningoperational rates. None of the eight South Korean airlines of this segment recorded proficit in operational profit.
A sharp decline in demand for flights to Japan added to this in Q3 after South Korea boycotted Japanese goods over trade conflict.