More growth … more pilots will be needed. South Korea carrier Korean Air has announced its aim to become the world’s largest air-cargo company within the next two years. An important part of their growth strategy is to target the booming air cargo and passenger demand in China.
Korean Air’s cargo volume growth has increased approximately 50% in China this year, and passenger volume has increased nearly 30% for the same period. Korean Air has asked the Seoul government to allow them to add more capacity between China and Korea to take advantage of this increased demand. Currently Korean Air has 123 direct weekly flights to China.
In addition, Korean Air has signed a letter of intent to purchase a 25% stake in Okay Airways, China’s first private carrier. This is the maximum ownership allowed by foreign investors in a Chinese airline.