Friday, August 13, 2010

Air Freight Cargo Levels Up For Korean Air

Record Figures for National Carrier
Shipping News Feature

SOUTH KOREA - Korean Air Lines saw air freight sales jump over 85% as US demand for electronic goods rebounded in the last quarter. The company, rated as the world’s largest freight carrier, had over $840 million in cargo sales out of overall sales of around $2,360 million.

Despite the huge rebound in freight plus a healthy upswing in passenger numbers the airline still managed to make an overall loss fired by the strength of the won against the dollar. This however has deterred neither the airline, nor analysts who predict the statistic is an anomaly which will be rectified in following economic periods.

One of the principal drivers for the recovery in cargo revenue has been the continuing success of Korea’s ability to manufacture ‘must have’ items such as Apples iPhone’s and ThinkPad plus products now considered staple to western homes like Samsung TV’s.