Subscribe free to our newsletters via your
. 24/7 Space News .




AEROSPACE
Korean Air to spend $1.58 billion on passenger jets
by Staff Writers
Seoul (AFP) May 3, 2011


South Korea's flag carrier Korean Air said Tuesday it would buy a total of seven passenger planes from Airbus and Boeing for nearly $1.58 billion.

The airline said the planes -- five Airbus A330-200s and two Boeing B777-300ERs -- would cost 1.685 trillion won ($1.577 billion) and be bought between May 2011 and September 2015.

Airbus, the airliner manufacturing subsidiary of European aerospace group EADS, said Korean Air has placed a firm order for five long-haul A330-200s worth about $1 billion.

Korean Air is buying the planes as part of an aggressive strategy to win customers from regioanl rivals.

Boeing announced in March that it had also secured an order for two of its new 747-8 cargo planes from Korean Air in a deal valued at $639 million at list prices.

The airline's first-quarter net profit rose 49.5 percent from a year ago to 282.1 billion won thanks to a stronger won and gains from equity investments.

Sales rose 7.2 percent on-year to 2.82 trillion won in the period, while operating profit fell 41.2 percent to 162.9 billion won due to increased fuel costs.

Analysts forecast travel demand to Japan will remain weak in the second quarter following the March tsunami, but that it will be offset by seasonal demand on routes to China, Southeast Asia and the United States.

.


Related Links
Aerospace News at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








AEROSPACE
Extreme testing for rotor blades
Munich, Germany (SPX) Apr 29, 2011
Only when you are standing beside a wind turbine can you appreciate the immense size of the wind turbine and its rotor blades. The largest wind turbines operating in the world today have rotor blades over 60 meters long - roughly equivalent to three truck-and-trailer units end-to-end. Within the next ten years, manufacturers of high-output wind turbines for offshore wind farms plan to prod ... read more


AEROSPACE
BRP To Contribute To Canadian Moon And Mars Exploration Programs

Naveen Jain Co-Founder And Chairman Of Moon Express

Project Morpheus To Begin Testing At NASA's Johnson Space Center

NASA Announces Winners Of 18th Annual Great Moonbuggy Race

AEROSPACE
Exploring Rio Tinto Eurobotically

NASA Orbiter Reveals Big Changes in Mars' Atmosphere

Dry ice find hints Mars was a wetter place: study

A Tale Of Two Deserts

AEROSPACE
Final preparations for Soyuz' first "virtual" flight

New software to support interest in extreme science

Spiders in Space - The Sequel

Voyager - The Love Story

AEROSPACE
Top Chinese scientists honored with naming of minor planets

China sees smooth preparation for launch of unmanned module

China to attempt first space rendezvous

Countdown begins for Chineses space station program

AEROSPACE
Soyuz is in the launch zone at Europe's Spaceport

Progress Docks To ISS

Russia ferries supplies to space

ESA prepares Soyuz for dry roll-out

AEROSPACE
Arianespace to launch ABS-2 in 2013

GSAT-8 put through its paces

Ariane Ariane 5 enjoys second successful launch for 2011

Ariane rocket launches two telecoms satellites

AEROSPACE
Astronomers unveil portrait of 'super-exotic super-Earth'

Tuning Into ExoPlanet Radio

The Shocking Environment Of Hot Jupiters

Radio signals could 'tag' distant planets

AEROSPACE
Foxconn workers treated like 'machines': labour group

Researchers Find More Efficient Way To Steer Laser Beams

US TV ownership down for first time in 20 years

Goddard Building Instrument To Study Reconnection




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement