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Korean Air to start budget operation within three years
POSTED: 8:48 a.m. EDT, June 6,2007
Korean Air, the world leading air cargo carrier, has announced that will start a budget airline within three years to serve domestic and short-range international routes.
The idea has been in the works since 2005 with one plan calling for it to be established through Korea Airport Service, an affiliated company, rather than setting up an entirely new company.
Kim Young-ho, president of Korean Air's passenger division, said the move was partly in response to the new high-speed rail network that is taking trade from air carriers. "It is Korean Air's conclusion that it must develop new markets and business models to effectively utilise the fleet that will be freed from domestic operations," the company said in the statement. |
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