Korean Air partners with SK Energy to adopt carbon-neutral jet fuel Korean Air partners with SK Energy to adopt carbon-neutral jet fuel(Seoul, September 6) - Korean Air has partnered with SK Energy, a major petroleum and refinery company in Korea, to introduce carbon-neutral jet fuel to actively counter climate change. Through the partnership, the airline will purchase a month’s worth of carbon-neutral jet fuel for domestic flights departing from Jeju and Cheongju.Carbon-neutral jet fuel can be achieved by measuring the total amount of greenhouse gas emissions produced through fuel production, transport and consumption, and purchasing carbon credits to offset the carbon footprint.Greenhouse gases generated from aircraft operations account for 2 to 3 percent of total global emissions. In line with the global aviation industry’s efforts for sustainable growth, Korean Air is seeking various methods to reduce carbon emissions to achieve carbon-neutral growth and fight climate change.Korean Air is actively participating in the International Civil Aviation Organization (ICAO)’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), and introducing eco-friendly and high-efficient aircraft. The airline’s recently introduced A220-300 is equipped with the latest engine, which reduces carbon emissions per seat by 25% compared to existing models of similar capacity.In 2017, Korean Air became the first Korean airline to use sustainable aviation fuel (SAF); SAF was trialed on a flight departing from Chicago to Incheon. In June this year, the airline also partnered with Hyundai Oil Bank to develop a foundation for biofuel manufacturing and its usage.In 2019, Korean Air replaced single-use plastics such as straws, coffee stirrers and cups with eco-friendly paper products, and has also conducted tree planting activities in Mongolia and China’s Kubuqi Desert.Korean Air has been working to improve its environmental, social and governance (ESG) management, and established an ESG committee, which reviews its management strategies focusing on ESG. The airline also issued ESG bonds in July to raise funds to purchase eco-friendly Boeing 787-10 aircraft.Korean Air will continue its efforts to enhance ESG management and reduce carbon emissions to help tackle climate change. 2021-09-06Report Korean Air Korean Air to pioneer UAM with Incheon International Airport Corporation and Korea Aerospace Researc... Korean Air to pioneer UAM with Incheon International Airport Corporation and Korea Aerospace Research Institute(Seoul, August 5) - Korean Air signed an Urban Air Mobility (UAM) R&D cooperation agreement with the Incheon International Airport Corporation (IIAC) and the Korea Aerospace Research Institute (KARI) on August 5 to establish a safe and efficient UAM transportation management system.The three organizations will conduct joint R&D to establish a UAM operations and transportation management system and develop the UAM industry.Through the cooperation, Korean Air plans to utilize the technical capabilities of each organization to achieve meaningful results.With its extensive experience operating commercial aircraft and expertise in unmanned aircraft development, Korean Air aims to develop the domestic UAM industry through synergy with the IIAC, which has air navigational aids and airport construction and operation capabilities, and KARI with its research competencies regarding future air traffic management.As the next solution to solve traffic congestion and environmental problems by utilizing city skyways, UAM’s global market worth is expected to reach about USD 1.5 trillion by 2040. Accordingly, the Korean government formed UAM Team Korea in June 2020 in a proactive effort to commercialize UAM in Korea by 2025. The government is leading public and private sector cooperation while it pushes for the early stabilization of Korean urban air transportation.Korean Air plans to create a foundation for UAM in Korea by increasing its technical cooperation with government agencies and research institutes while actively establishing infrastructure and operating control systems to open up the city skyways. 2021-08-05Report Korean Air Korean Air operates 10,000 cargo-only passenger flights Korean Air operates 10,000 cargo-only passenger flights(Seoul, August 2, 2021) - Korean Air has operated 10,000 cargo-only passenger flights as of August 1. The airline launched its first cargo-only passenger flight on the Incheon-Ho Chi Minh route in March 2020, and has operated these flights on 65 routes to North America, Europe, Southeast Asia, China and Japan, transporting 400,000 tons worldwide. Approximately 40 tons are transported per round trip (20 tons one-way).After most flights were suspended following the COVID-19 outbreak, Korean Air began operating cargo-only passenger aircraft. Beginning with 38 of these flights in March last year, the airline currently operates more than 800 cargo-only flights a month.Through close cooperation with the Ministry of Land, Infrastructure and Transport and aircraft manufacturers, Korean Air has increased its cargo capacity by utilizing overhead bin space, using “cargo seat bags,” a safety device that can load cargo on passenger seats, and removing seats to enable cargo floor loading.Korean Air is also actively responding to emergency pandemic related demands, and the cargo-only flights are mainly transporting pandemic relief goods such as COVID-19 diagnostic kits, protective clothing and masks. More than 100 cargo-only aircraft were deployed to India, where COVID-19 cases were soaring, to transport pandemic relief supplies, and a charter flight was operated to deliver COVID-19 diagnostic kits to Baltimore-Washington International Airport, U.S, in April 2020. Korean Air is currently transporting pandemic related supplies to Indonesia, Singapore, Germany and Canada.In the process of transporting pandemic relief products, Korean Air recorded its longest-distance flight - cargo flight KE8047, which flew 13,405 km for a duration of 14 hours and 42 minutes from Incheon Airport to Miami Airport (U.S.) on June 12, 2021. To meet urgent demand, the airline continues to increase its capacity even if it means flying on new routes.Cargo-only flights have also been contributing to resolving recent logistics challenges faced by many companies struggling due to shipping supply shortages. Korean Air has increased its cargo capacity to support urgent export and import logistics by maximizing its flight operations through using available passenger aircraft. While the airline’s cargo volume transported using passenger aircraft sharply dropped to 16,000 tons per month right after the COVID-19 outbreak, from 2021, this number has recovered to more than 40,000 tons per month, close to pre-pandemic levels.Meanwhile, Korean Air is actively supporting logistics for small- and medium-sized consignors. Last year, the airline operated charter flights for small- and medium-sized companies exporting goods to Indonesia and Japan in cooperation with the Ministry of Trade, Industry and Energy and Korea International Trade Association. The carrier has also secured space for small- and medium-sized companies on regular cargo flights bound for Los Angeles, U.S this year.“We expect cargo-only passenger flights to play a more vital role in the second half of the year, when the volume of import and export cargo typically increases,” said a Korean Air representative. “As a Korean flag carrier, Korean Air will continue its efforts to create a stable logistics environment for imports and exports by actively securing cargo capacity.” 2021-08-02Report Korean Air Korean Air begins research on air launch development using large commercial aircraft Korean Air begins research on air launch developmentusing large commercial aircraft (Seoul, July 20, 2021) - Korean Air has recently commenced a joint research project with Seoul National University, which was commissioned by the Republic of Korea Air Force, to develop the feasibility of using large commercial aircraft for air launching.As part of the joint research, Korean Air will analyze the Boeing 747-400’s current technology capability, major technology to be applied, annual operating costs, and necessary aircraft modification for air launching. The airline will further explore ways to commercialize the modified aircraft in the market.Until now, it was not possible to develop projectiles that launch in the air due to the Korea-U.S. “guidelines” that restricted the range of Korea’s ballistic-missiles. However, with the termination of these regulations in May 2021, the development and operation of an air launch system is now possible.This research is especially meaningful as air launching capabilities will help Korea to overcome its geographical limitations. Currently, satellites can only be launched southward from Naro Space Center, Korea’s spaceport located in the southwest province. However, air launch vehicles can be launched in various directions and routes. Air launch vehicles are launched at altitudes of 12 km, making them less affected by weather conditions, which are a common drawback of ground launches.In addition, air launching cuts the cost of building and maintaining a site to launch vehicles. There is also the possibility to generate revenues by providing services to other countries that do not have their own launch site. For this reason, some countries have already been utilizing commercial aircraft for air launches. LauncherOne, an orbital launch vehicle developed by Virgin Orbit in the U.S, was successfully launched using a modified Boeing 747-400 in January and June 2021.While the military, government and companies scramble to announce plans to utilize small satellite constellations in the “new space age,” an environment to launch small satellites in Korea has not been established yet. Therefore, it is inevitable to use overseas projectiles, which take more than two years on average from the signing of the contract to the actual launch. This is the reason why the development of air launching capabilities must be prioritized."To attract the fast-growing, worldwide demand for small satellite launches, it is essential to develop capabilities for air launching, which is not affected by weather or geographical conditions,” said Korean Air. “We will use our extensive experience operating aircraft and expertise in the aerospace business, which includes aircraft system integration and assembling Korea’s first space launch vehicle, Naro, to develop an air launch system that is competitive in the global market.” 2021-07-20Report Korean Air Korean Air to bid for second Baekdu reconnaissance aircraft development project Korean Air to bid for second Baekdu reconnaissance aircraft development projectKorean Air’s Aerospace Division announces its plans to bid as a main contractor for Korea’s Defense Acquisition Program Administration (DAPA)’s second Baekdu reconnaissance aircraft development project.The first Baekdu reconnaissance aircraft development project entailed building new Baekdu surveillance aircraft with enhanced features to replace some of the existing Baekdu fleet, which was introduced by the Korean military in the 1990s. The Baekdu aircraft, a key surveillance force of the Air Force, is named “Baekdu” as its coverage reaches Mt. Baekdu in North Korea.Approximately KRW 400 billion won was invested in the first Baekdu development project, a seven-year project carried out from 2011 to 2018. A total of two new Baekdu reconnaissance units were created based on the French business jet, Dassault Falcon 2000S. The new Baekdu aircraft were equipped with intelligence collecting equipment and a transmission system developed by local manufacturers, LIG Nex1 and Hanwha Systems.During the first project, Korean Air carried out key tasks, such as aircraft modification, integrated logistics support, airworthiness certification and test flights. Using the technology and expertise acquired through creating the first new Baekdu aircraft with L-3 PID, a U.S. defense company, Korean Air succeeded in building the second aircraft by itself.Following the success of the first project, the Korean military decided to launch a second project to replace the four older Baekdu reconnaissance aircraft with newly configured Baekdu aircraft. The second project is planned to run from 2022 to 2026 with a total project cost of about KRW 870 billion.A Korean Air representative said, “We have accumulated a significant amount of know-how through our participation in the first project that will help us to successfully carry out the second project. We have already signed an aircraft purchase agreement with Dassault Aviation to speed up preparations for the project.”Currently, the Korean military operates six Baekdu surveillance aircraft. Compared to Global Hawk, a U.S. developed high-altitude unmanned aerial vehicle, Baekdu has advanced signal-collecting capabilities, and it can detect both electronic intelligence (ELINT) and communications intelligence (COMINT). After the older Baekdu units are replaced with the four newly configured Baekdu aircraft produced through the second project, all Baekdu aircraft will be equipped with the technology to capture foreign instrumentation signature intelligence (FISINT) and detect flames when missiles are launched.Korean Air, as the top Korean aerospace company, will continue to work closely with DAPA, and contribute to bolstering national defense capabilities through participating in various military strengthening projects. 2021-07-02Report Korean Air Korean Air and Korea Development Bank finalize Asiana post merger integration plan Korean Air and Korea Development Bank finalize Asiana post merger integration plan(Seoul, June 30, 2021) Korean Air has finalized the post merger integration (PMI) plan to integrate Asiana Airlines after receiving confirmation from the Korea Development Bank.In November 2020, Korean Air signed a deal to acquire Asiana’s new shares and perpetual convertible bonds. After the contract, Korean Air thoroughly conducted due diligence and created the post merger integration (PMI) plan, which it submitted to the Korea Development Bank on March 17. For three months, the state-owned bank reviewed the PMI plan and made revisions in consultation with Korean Air, the Ministry of Land, Infrastructure and Transport, and other relevant agencies.The finalized PMI plan includes integration plans for the airlines’ full service carriers (FSCs) and low cost carriers (LCCs); measures to resolve restrictions of holding companies stipulated in the Fair Trade Act; employment retention and succession of collective agreements; and plans to effectively reorganize relevant subsidiaries.Following the finalization of the PMI plan, Korean Air will proceed to integrate with Asiana after receiving business combination approvals from relevant authorities. Due to complicated issues involving legal, financial, and tax risks, the actual implementation will reflect various market regulations and conditions. The newly integrated global airline will increase operational efficiency of overlapping passenger and cargo routes, while diversifying its schedules and expanding opportunities for new routes, which will increase customer benefits and create integrated synergy by reducing costs.Moreover, the integrated FSC and LCC are expected to improve efficiency by achieving economies of scale, and will act as an opportunity for the growth of relevant contractors, partners and other companies in the aviation industry.Korean Air will continue to proactively take necessary steps to make sure the PMI plan is being carried out properly, and the implementation progress will be regularly inspected by the management evaluation committee, which has been established in agreement with the Korea Development Bank. 2021-06-30Report Korean Air Korean Air partners with Hyundai Oilbank to adopt Sustainable Aviation Fuel Korean Air partners with Hyundai Oilbank to adopt Sustainable Aviation FuelKorean Air signed a Memorandum of Understanding (MOU) with Hyundai Oilbank, a leading petroleum and refinery company in Korea, regarding the manufacturing and usage of sustainable aviation fuel (SAF).Through the partnership, Korean Air hopes to not only counter climate change caused by the aviation industry through the use of SAF, but also help commercialize SAF and explore other business opportunities.SAF, which is made up of grains, plants, algae and animal fats, can reduce a flight’s carbon emissions by up to 80%. However, commercializing this eco-friendly fuel has been very difficult due to its high price, three times higher than current aviation fuel, and the lack of manufacturing and fueling infrastructure.Korean Air and Hyundai Oilbank will work to develop a foundation for biofuel manufacturing and its usage; explore opportunities for SAF usages in the market; raise awareness about SAF; and propose relevant policies.While aircraft operations currently contribute to about 2 to 3% of global emissions, the growing aviation industry’s strategy to tackle climate change is critical.In 2017, Korean Air used SAF for the first time in Korea by mixing biofuel extracted from plants such as corn with jet fuel.Korean Air is also actively participating in the International Civil Aviation Organization (ICAO) and Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), as it continues to replace its fleet with eco-friendly and high-efficient aircraft.Korean Air will continue its effort to apply various carbon reduction measures to achieve carbon neutralization. 2021-06-30Report Korean Air Korean Air wins Air Transport World Airline of the Year Award Korean Air wins Air Transport World Airline of the Year Award(Seoul, June 29, 2021) - Korean Air has been announced the winner of one of the most prestigious honors in the aviation industry: Air Transport World’s (ATW) 2021 Airline of the Year.Launched in 1974, ATW’s annual Airline Industry Achievement Awards are compared to the Academy Awards of the airline industry. This year’s awards ceremony will be held in Boston, U.S., on October 5, 2021.When making its decision, ATW’s global judging panel of editors and analysts cited, “the company’s excellent leadership, its ability to remain operationally profitable through the industry’s worst-ever crisis, its strong commitment to health safety...customer service excellence, and its remarkable relationship with employees.” The judges also noted the airline’s “transformational strategic deal to incorporate Asiana and create a larger, more global flagship carrier.”"We are so honored to receive ATW’s prestigious Airline of the Year award. This award is a tribute to our employees for their dedication, sacrifices and loyalty, especially during the tumultuous past year,” said Walter Cho, Chairman and CEO of Korean Air. “I’m so grateful and proud of our team. We’ve come a long way and are committed to being a smart, resilient and sustainable respected leader in the global aviation industry. We will continue to deliver excellence in flight as we connect the global community. We thank ATW for this award as well as for its continued industry leadership."ATW Editor-in-Chief Karen Walker said, “Korean Air and its team of dedicated employees have truly demonstrated excellence across the board. We are delighted for them and offer sincere congratulations.”This year’s award is even more meaningful to Korean Air, as the global industry has been suffering from the unprecedented crisis caused by COVID-19.Korean Air is one of few airlines, if not the only one, in the world recording operating profits for four consecutive quarters from the second quarter of 2020 to the first quarter of 2021. The airline made the strategic decision to focus on the cargo business and maximize cargo operations through measures such as converting passenger jets into freighters.Meanwhile, Korean Air took the bold step to acquire Asiana Airlines, the biggest deal in the global aviation industry during the pandemic.The airline also quickly responded to the pandemic with its Care First program, launched to deliver the highest quality of protection to customers throughout the entire passenger journey through enhanced cleanliness and safety protocols. In recognition of its strong safety and hygiene measures, the carrier received a 5-star safety rating from Skytrax, one of only a few global airlines to achieve such recognition.Korean Air plans to continue to strengthen its position in the global aviation industry, and aims to become one of the world’s top 10 airlines after successfully acquiring and integrating Asiana Airlines. 2021-06-29Report Korean Air Korean Air to issue environmental, social and governance bonds Korean Air to issue environmental, social and governance bonds(Seoul, 25 June, 2021) - Korean Air plans to issue environmental, social and governance (ESG) bonds on July 7 to raise funds for its environmentally and socially responsible investments. The bonds will have maturities of 1.5 years, 2 years and 3 years, and will amount to about KRW 200 billion. The exact issue amount will be determined after the results of forecasted demand become available on June 29.ESG bonds include green bonds, social bonds and sustainability bonds, and should be used for eco-friendly projects or to create social value. Until now, ESG bonds have been issued mainly by state-run companies, financial institutions and manufacturing companies in Korea; Korean Air will be the first Korean airline to issue these bonds.To issue ESG bonds, the funding purpose needs to be designated. ESG bonds issued by Korean Air are green bonds, and raised funds will be used to purchase next-generation, eco-friendly Boeing 787 aircraft.Korean Air is currently operating a total of 10 Boeing 787-9s, and the airline plans to introduce Boeing 787-10s as early as next year. This new aircraft has 25% higher fuel efficiency per seat and emits 25% less carbon emissions than similar aircraft.Korea Investors Service (KIS), Korean Air’s ESG bond evaluator, said Korean Air was given the highest grade for the green bond due the airline’s excellent scores in terms of project eligibility, transparency and management/operations systems. KIS also evaluated that the Boeing 787, which will be funded by the green bond, will greatly reduce greenhouse gas emissions.Korean Air is making various efforts to enhance ESG management. The airline has focused on reducing carbon emissions by introducing next-generation, eco-friendly aircraft and carrying out practices to improve fuel efficiency. The carrier has also carried out many corporate social responsibility activities such as sending emergency relief supplies to sites devastated by catastrophic events in and outside of Korea. 2021-06-25Report Korean Air Korean Air to Participate in Small Satellite Launch Vehicle Development Korean Air to participate in small satellite launch vehicle development(Seoul, June 24, 2021) - Korean Air will develop common bulkhead propellant tanks for small satellite launch vehicles as part of the Ministry of Science and ICT’s “Space Pioneer” project.The Ministry of Science and ICT plans to invest a total of KRW 211.5 billion by 2030 in the “Space Pioneer” project, which aims to strengthen the global competitiveness of the domestic aerospace industry by reducing dependence on overseas products.With a budget of KRW 32 billion, Korean Air has formed an industry and academic consortium with the Korea Aerospace Research Institute, NDT Engineering & Aerospace and Korea Aerospace University to develop common bulkhead propellant tanks for small satellite launch vehicles by 2026.The common bulkhead propellant tank combines fuel and oxidizer tanks into a single tank using the latest metal welding and insulation technology. This new technology will increase the competitiveness of the small satellite launch vehicle market in Korea, as it will reduce the number of satellite launch vehicle parts, simplify structures, decrease vehicle weights by 30%, and cut down production costs.The common bulkhead propellant tank is expected to dramatically reduce the cost of sending 500-kg small- and medium-sized satellites or small satellite constellations into Earth’s low orbit.The small satellite launch vehicle market is expected to grow rapidly worldwide. SpaceX has already launched 1,000 400-kg satellites and plans to launch up to 12,000 more in the future. Global IT companies such as Amazon and Facebook are also planning to launch hundreds of small- and medium-sized satellites.On June 23, 20 engineers and officials from Korean Air, the Korea Aerospace Research Institute, and NDT Engineering & Aerospace gathered at the Korean Air R&D Center in Daejeon to discuss development plans, a future roadmap, and the scope of cooperation.Korean Air will manage the risk and quality assurance system as well as testing and evaluation for certification. The developed common bulkhead propellant tank will be used as a major component of a 500-kg small satellite launch vehicle, which is to be developed by Korean Air and the Korea Aerospace Research Institute.In 2012, Korean Air developed and assembled Korea's first space launch vehicle, Naro (KSLV-1), and the company has core technology capabilities such as aircraft system integration and aircraft structure development.Through the successful launching of the project, Korean Air plans to contribute to the development of Korea's space industry and strengthen the industry’s global competitiveness. 2021-06-24Report Korean Air
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