MIAMI – Korean Air (KE), following the permission granted by the Korean Transport Minister, can now modify its first passenger aircraft into a Cargo unit.
Following the outbreak of COVID-19 and the crisis linked to it, KE was looking forward to having the green light to swap the passenger configuration on its aircraft to deal with the new business requirements.
First B777-300ER Ready to Change Its Configuration
Finally, after some debate, a B777-300ER can proceed to its modification. The change involves the removal of all its 269 seats allocated inside to leave room for cargo.
The approval allows the airline to carry an additional 10.8 tons of cargo, totaling 32.8 tons, a 49% increase from the previous 22 tons.
Korean Air’s Financial Situation
Korean Air Lines swung to a ₩162.41bn (US$137.29bn) net profit in the second quarter from ₩380.78bn (US$321,08bn) in net losses during the same quarter last year.
Back in June, following a ₩1.2tr injection into KE by the Export-Import Bank of Korea and the Korea Development Bank, the carrier expected to submit a self-rescue plan in return for further aid.
The self-rescue plan totaled ₩1.5tr, with ₩1tr being part of a stock offering, according to Yonhap News. Other self-rescue measures included the sale of assets.
Featured image: Korean Air Boeing 777-300ER. Photo: KE.