T’way targets more cargo business ahead of KAL-Asiana mega-LCC take-off
South Korea’s T’way Air is targeting more air freight business as the first low-cost carrier ...
EXPD: 'NO-LAYOFF POLICY' EXPD: LEGAL RISK FWRD: REACTIONWTC: BOLT-ON DEALDSV: BLACKROCK HOLDING UPDATEAMZN: TOP PICKDSV: MORE OF THE SAME GXO: DOWN EXPD: IN THE DOCKAAPL: CHINA WOESFDX: ABOUT USPS PRIVATISATIONFDX: CCO VIEWFDX: LOWER GUIDANCE FDX: DISRUPTING AIR FREIGHTFDX: FOCUS ON KEY VERTICAL
EXPD: 'NO-LAYOFF POLICY' EXPD: LEGAL RISK FWRD: REACTIONWTC: BOLT-ON DEALDSV: BLACKROCK HOLDING UPDATEAMZN: TOP PICKDSV: MORE OF THE SAME GXO: DOWN EXPD: IN THE DOCKAAPL: CHINA WOESFDX: ABOUT USPS PRIVATISATIONFDX: CCO VIEWFDX: LOWER GUIDANCE FDX: DISRUPTING AIR FREIGHTFDX: FOCUS ON KEY VERTICAL
Air Incheon plans to celebrate its takeover of Asiana’s cargo business by launching flights to the US.
The South Korean cargo airline applied to the US DoT last week to operate scheduled and on-demand cargo services between Korea and the US.
Its proposed 747F routes are Incheon-Anchorage-Chicago O’Hare-Dallas Fort Worth-Seattle; Incheon–Anchorage-Chicago O’ Hare-Atlanta; Incheon-Los Angeles-San Francisco; Incheon–Anchorage–JFK–Brussels; and a flight between Incheon and Los Angeles, on either a 767F or 747F.
It also noted it would fly charters “including, but not limited to, freight forwarder and split charters”.
Air Incheon, which has now received approval from all the necessary regulatory authorities to take over Asiana’s cargo arm and aircraft, in a deal thought to be worth about $340m, plans to launch US services on 1 July.
It told the DoT that once it had acquired Asiana Cargo, it would incorporate 11 aircraft into its fleet – 10 747fs and one 767F.
Air Incheon’s network has thus far focused on Asia, with services to Japan, Malaysia, Bangladesh, Singapore and China. The planned routings show it is also looking to develop in Europe, with Brussels listed.
According to media reports, the carrier must amend its air operators certificate to allow it to operate Asiana’s fleet, although it already operates four 737 freighters. Cargo Facts said the carrier would do so in February or March and expected to receive the first of Asiana’s aircraft shortly afterwards, completing the process by mid-2025.
Air Incheon proposed paying KRW470bn ($332m ) to take on Asiana’s 13 freighters, a number of existing contracts and some Asiana employees. It will become South Korea’s second-largest air freight operator. Korean Air is acquiring the remainder of Asiana, with the sale of the cargo business one of the requirements made by competition authorities.
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