The airline industry in South Korea is currently on track to record its worst performance in the first quarter with the dismal situation continuing in the near future.
Korean Air, which is currently the nation’s largest airline are set to announce its first-quarter earnings soon, is expected to post an operating loss of around $195 million (£158 million). Which will see the first red on the books since 2015, according to industry sources.
“Normalization of international flights will be difficult until at least the second quarter. Even if the pandemic subsides in the third quarter, the peak season, it will inevitably be affected by a reduction in the number of vacation days due to the postponement of school opening,” – Yang Ji-hwan, an analyst at Daishin Securities.
