KOREAN AIR ORDERS FIVE A330-200S; PLANS TO BUY TWO 777-300ERS

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By TESTCustomwebLP TESTCustomwebLP May 4, 2011 08:43

KOREAN AIR ORDERS FIVE A330-200S; PLANS TO BUY TWO 777-300ERS

Korean Air has placed a firm order with Airbus for five A330-200s. The deal tales the total numbers of A330s ordered by the airline to 30, of which 23 have already been delivered. As with the existing Korean Air A330 fleet, the newly ordered aircraft will be powered by Pratt & Whitney PW 4000 engines.

“Korean Air’s latest order underscores the ongoing success of the A330 with leading airlines worldwide,” said John Leahy, Chief Operating Officer Customers, Airbus. “Combining the highest levels of reliability, outstanding medium and long range capabilities and the lowest operating costs in its class, the A330 is proving time and time again that it is the most efficient aircraft in service today in the mid-size widebody category.”
In a regulatory filing, the airline also stated that it plans to purchase two Boeing 777-300ER aircraft as well as the five Airbus aircraft, which have a list price of about $1.57 billion and will be delivered from 2013 to 2015.

Korean Air takes delivery of the first of five A380 aircraft this month, which will allow it to expand its premium passenger service.

In the three month’s to March 31, Korean Air posted net income increase of 49% to 282.1 billion won ($264 million) from a restated 188.7 billion won a year earlier. Sales rose 7.2% to 2.82 trillion won.

Earnings from affiliates jumped more than nine-fold to 137.6 billion won, the carrier said. Korean Air also booked currency gains of 204.6 billion won after the won’s 3.5% gain against the dollar pared the repatriated value of its US currency-denominated debt.

Operating profit fell 41% to 162.9 billion won following a 30% rise in average fuel costs. Cargo traffic dropped 1.6% because of weaker demand for computer chips, flat-screen televisions and displays, the airline said. International passenger traffic rose 3%, led by demand in the US and China.

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By TESTCustomwebLP TESTCustomwebLP May 4, 2011 08:43
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