Korean announces anniversary goals
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Korean Air has celebrated its 40th anniversary and announced its business goals for the next 10 years at a commemorative event held at its world headquarters in Seoul.
Privatised from state-run Korean Air Lines on 1 March, 1969, Korean Air started with eight small planes. 40 years later, Korean Air operates a fleet of 130 aircraft to 116 destinations in 39 countries around the world.
By its 50th anniversary in 2019, the carrier aims to achieve KRW5 trillion (US$303 billion) in operating revenue and KRW2.5 trillion in operating profit. To achieve this goal, the airline plans to increase its number of international passengers to 20 million per year by 2019 from 13 million last year, boosting it into the world’s top 10 airlines for passenger traffic.
In terms of fleet expansion, the airline has already orders 10 Airbus A380s and the same amount of Boeing 787 Dreamliners, with deliveries starting next year. Korean Air’s fleet will rise to 180 by 2019.
“It is my sincere desire to make Korean Air a strong company that can endure any challenge, by focusing on the growth and strengthening of our fundamental values,” said Korean Air Chairman and CEO, Yang Ho Cho, in a speech to employees at the event
A new slogan; “Beyond 40 Years of Excellence”, has been introduced to mark the occasion.
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