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Tag: Asiana Airlines

  • Asiana and pilots reach safe operations agreement

    Asiana and pilots reach safe operations agreement

    Asiana Airlines and its pilot labor union jointly announced their vision for safe airline operations, the airline said Friday. During a ceremony held for the announcement Thursday, they vowed to strengthen communications for safe flight operations and cooperate in enhancing airline sustainability. The ceremony was held at the company headquarters in Gangseo District, western Seoul.

    Asiana Airlines CEO Han Chang-soo and Asiana Pilot Union head Kim Young-gone attended.

    The union requested the company establish a new team that will make sure there are no obstacles to safe flight and improve pilot rights and interests. The company agreed to fully support safe and secure flight operations.

    The two parties completed wage negotiations in September and have since worked toward cooperation.

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  • Asiana Korea upgrades the system that monitors flight safety

    Asiana Korea upgrades the system that monitors flight safety

    Asiana Airlines completed an upgrade of its flight operational quality assurance system on Friday. The system analyzes data related to flight operations including piloting decisions during unexpected weather conditions and plane speeds or flying altitudes on certain flight routes.

    It was first implemented in 1995 to ensure safety in flight operations and, since 2015, a committee consisting of eight representatives from both the corporate and labor union has been holding monthly meetings to find potential risks in flight operations based on the data.

    Asiana said the upgrade enables the company to collect and analyze all data on flight operations while the previous system only allowed the company to analyze unusual sets of data. This way, the airline can monitor each pilot’s operational habits and provide more detailed feedback to them.

    The airline is also preparing to launch a so-called Asiana Flight Review Assistance System by 2019 in partnership with its IT service affiliate Asiana IDT to further enhance safety in flight operations. This system will help the company manage all analysis on flight operations using big data technology.

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  • Asiana Airlines net profit jumps up 181% in Q3

    Asiana Airlines net profit jumps up 181% in Q3

    Asiana Airlines, Korea’s second-largest airline by sales, said on Tuesday that its third-quarter net profit skyrocketed 181 percent on improved financial status. Net profit in the July-September period came to 47.8 billion won ($42.5 million), up from 17 billion ($15 million) won a year earlier on a consolidated basis, the company said in a statement.

    Operating profit fell 15 percent to 101 billion won ($89.7 million), while sales increased 14 percent to 1.85 trillion won ($1.64 billion) over the cited period.

    The company attributed the rise in net profit to an improvement in its financial structure.

    Asiana said its debt reduced from 4.06 trillion won ($3.6 billion) by the end of last year to 3.14 trillion won ($2.68 billion) by the end of September.

    Profit from the summer peak season and sales of its group office building in downtown Seoul were reflected in the latest earnings, according to the company.

    Meanwhile, Asiana cited rising oil prices as the cause of the drop in operating profit.

    Shares of the flag carrier closed at 3,920 won ($3.48) on the Seoul bourse, up 1.16 percent from the previous session’s close.

  • Asiana Airlines Korea appointed new president

    Asiana Airlines Korea appointed new president

    Kumho Asiana Group announced a personnel shift on Friday, with Han Chang-soo, head of Asiana IDT, an information and communication technology unit of the airliner group, being appointed as the new president of Asiana Airlines.

    Park Se-chang, a third-generation member of the Kumho Asiana founding family, succeeded Han as head of Asiana IDT.

    Park is the only son of Kumho Asiana Group Chairman Park Sam-koo and the current CEO of Kumho Asiana Group, a position that he took over in February 2016.

    The 43-year-old Park has held various positions since he joined the group in 2002, including at Kumho Tire, where he was the vice president.

    While the CEO of Kumho Asiana Group, Park led a task force dedicated to fourth industrial revolution technologies.

    Asiana Airlines’ new president, Han, joined the group in 1986 and was one of the employees that participated in the launch of the airline in 1988.

    From 2005, he worked in strategic planning in the airlines financial department before being appointed as the head of Asiana IDT in March 2015.

    Han’s appointment came after his predecessor Kim Soo-cheon offered to quit a day earlier.

  • Asiana Airlines mired in the red for first half of 2018

    Asiana Airlines mired in the red for first half of 2018

    Asiana Airlines, Korea’s second-biggest airline by sales, said Wednesday it swung to a net loss in the first half as a strong won drove up currency losses and fuel costs.

    Asiana Airlines reported it was in the red by 54.8 billion won for the January-June period, shifting from a net profit of 21.3 billion won a year earlier, the company said in a statement.

    “The airline suffered 72.6 billion won in foreign exchange losses during the first six months due to the won’s strength against the dollar, swinging from foreign exchange gains worth 63.7 billion won a year ago,” an Asiana spokesman said.

    Higher jet fuel prices also weighed on first-half results, he said.

  • Another Vietnam asset for Mapletree Investments

    Another Vietnam asset for Mapletree Investments

    Singaporean real-estate investment firm Mapletree Investments has acquired Kumho Asiana Plaza Saigon, a mixed-use complex in Ho Chi Minh City’s CBD, taking its total assets under management in Vietnam to more than US$1 billion.

    As well as a supermarket, the plaza has mainly restaurants and is anchored by Hard Rock Cafe and Starbucks. It also has Grade A offices, serviced apartments and a hotel managed by InterContinental Hotels Group (IHG). It is Mapletree’s largest acquisition in Vietnam involving a completed income-producing property.

    Korean media outlets say that South Korea’s second-largest flag carrier, Asiana Airlines, and Kumho Industrial, the two joint-venture partners of the complex, have sold off their interest for US$215 million in a bid to improve their financial health.

    “Kumho Asiana Plaza is a rare asset given its attributes such as size, strong occupancy and location,” says Mapletree CEO Hiew Yoon Khong.

    He says the group will continue to seek similar investment opportunities in Ho Chi Minh City and Hanoi.

    Mapletree entered Vietnam in 2005, and most of its projects are developed within central business districts as well as four logistics parks across the country.

    One of its main current developments is Saigon South Place, a mixed-use project in Ho Chi Minh City that will comprise Grade A office towers, serviced apartment and residential buildings, as well as the current shopping centre SC VivoCity, which Mapletree jointly developed with Vietnam retailer Saigon Co.op.

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