Korean Air Wins Aviation Industry Oscar... Cho Won-tae "Thanks to Employees' Dedication"

Selected as 'ATW Airline of the Year'

[Asia Economy Reporter Dongwoo Lee] Korean Air announced on the 29th that it has been selected as the ‘2021 Airline of the Year’ by the global aviation media ‘Air Transport World (ATW).’ The award ceremony is scheduled to take place on October 5th in Boston, USA.

The ATW Airline of the Year award is regarded as the Oscars of the global aviation industry due to its prestige. ATW forms a global judging panel consisting of editors and analysts who comprehensively evaluate factors such as financial stability, business operations, customer service, sustainability, and safety to select the best airline each year. The award has been presented since 1974, marking its 47th edition this year.

Jowon Tae Cho, Chairman of Hanjin Group, said, “This ATW Airline of the Year selection is thanks to the dedication and sacrifice of our employees who endured the worst situation of COVID-19 together,” adding, “We will continue to strive tirelessly to provide excellent service while connecting the global community.”

Despite the global air routes being shut down after the COVID-19 pandemic, Korean Air was the only global airline to record operating profits for four consecutive quarters from Q2 2020 to Q1 2021. In particular, while the passenger sector was at a standstill due to COVID-19, the company effectively targeted the air cargo market by increasing the utilization rate of its large cargo fleet and actively using cargo-only passenger aircraft and passenger aircraft with removed seats.

The decision to acquire Asiana Airlines, demonstrating leadership capabilities in the post-COVID-19 global aviation industry, and capital expansion through rights offerings that lowered the debt ratio to the 200% range, also received high marks.

Korean Air’s COVID-19 quarantine response was also evaluated as excellent. Through its own integrated COVID-19 quarantine program, ‘Care First,’ Korean Air promoted quarantine activities at each travel stage and expanded contactless services. As a result, it received the highest 5-star rating in the COVID-19 category from Skytrax.

Korean Air stated, “Based on the ATW Airline of the Year selection, we plan to further solidify our status in the global aviation industry,” and explained, “In particular, we will actively cooperate with the ongoing corporate merger review procedures domestically and internationally to leap into the world’s top 10 airlines based on the acquisition and integration of Asiana Airlines.”

This content was produced with the assistance of AI translation services.