South Korean airlines see record passenger numbers in first half of 2024

Korean Air remains the largest carrier among South Korea's two full-service network carriers (FSNCs), which also include Asiana Airlines. Korean Air reported strong financial performance earlier this year, with a 20% year-on-year increase in revenue and a 5% rise in profits. The airline has nearly restored its network capacity to pre-pandemic levels, except for routes to China.

In recent weeks, Korean Air has increased its capacity for London Heathrow by switching from Boeing 777-300ER operations to larger Boeing 747-8 services, boosting capacity on that route by 33%.

A key development on Korean Air's agenda is its potential acquisition of Asiana Airlines. This merger has been under discussion for years and would result in one of the world's largest airlines if completed. However, it still requires approval from the US Department of Justice (DoJ) due to concerns about reduced competition on routes between Seoul Incheon International Airport and the US.

Should the merger proceed, it is likely that Korean Air will need to reduce certain services to allow US-based carriers like United Airlines to replace them, given that United would lose its Star Alliance partner Asiana if the acquisition occurs.

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