Korean Air has been ranked the world’s best performing airline in Air Transport World’s (ATW’s) annual World Airline Report published this month.
The airline posted a net profit last year of $850 million, about a $1.4 billion positive change over 2016. The Korean flag carrier also was ranked by ATW as one of the world’s top 20 airlines in operating revenues and top 25 in operating profit and RPKs (revenue passenger kilometers).
Korean Air attributes the rise in profitability to a variety of factors including:
- Focus on qualitative rather than quantitative growth
- More diversified marketing strategies
- More flexibility in capacity control
- Route profitability monitoring
- Differentiation through customer service
- Continued introduction of new aircraft like the B-787
“Korean Air is a remarkably strong airline both financially and in our global operations”, said John Jackson, managing vice president of the Americas. “We are the largest transpacific carrier and have become the strongest transpacific alliance with our joint venture with Delta. We also are in a position along with our partner, Delta, to open new markets like Boston and Minneapolis/St. Paul next spring. This is an exciting time for our airline.”
ATW has been ranking of the world’s airlines for decades and is a sister publication of Aviation Week. For over 50 years, the publication has been the leading monthly magazine serving the global airline and air transport manufacturing communities.
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