Korean Air seeking to lure more foreign passengers

SEOUL, Jan. 23 (Yonhap) -- Korean Air Line Co., South Korea's top flag carrier,
plans to attract more foreign passengers and add more routes this year as part of
efforts to boost its presence in the global airline industry, its chief executive
officer said Friday.

"The global economy is undergoing a hard time but it could be the best
opportunity for us," Lee Jong Hee, president of Korean Air, said in an interview
with Yonhap News Agency.
About 40 percent of its passengers are non-Koreans, according to Lee. "We seek to
raise the portion to 60 percent this year," Lee said adding that a relatively
strong U.S. dollar and Japanese yen could help woo more foreign customers.
This year, Korean Air also plans to increase international routes to boost its
share. Last year, it reduced its overseas routes on increased fuel costs and a
weaker won.
"We will open a route liking Incheon and Shizuoka of Japan, and add more
international routes to offer better services to passengers," Lee said.
The airline, the world's largest international cargo carrier, posted its fourth
straight quarterly loss for the third quarter of last year mainly due to a weaker
won, which raised the cost of purchasing fuel and servicing foreign debt.
Recently, a global economic slump has choked passenger and cargo traffic. While
the drop in fuel prices has provided some reprieve, air traffic demand has fallen
as companies and tourists cut back on travel.
"Oil prices have stabilized recently, but the trend of a weak local currency is
continuing," Lee said. "We plan to increase sales overseas and redouble efforts
to hedge against currency fluctuations," he said.
sam@yna.co.kr
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