Korean and Asiana Airlines

[Decolar]

I just saw the recent financial results from Korean Airlines on another thread and it occurs to me that perhaps they are not subsidized by the government. Where could I find this info? Also, Asiana Airlines? Are they subsized in any way by the South Korean government?

[767_FO]

Dude, there is so much corruption in Korea you cannot possibly believe anything you read, I don't care what the source is. Just spent 14 months living in Seoul.

[Capt Chambo]

Both are "privately' owned. Korean Air is owned by the Hanjin Group, whereas Asiana is owned by the Kumho Group.
Kumho is the larger company but Asiana is the smaller airline, neither are directly subsidised by the Korean Government but of course we are talking big business here so the lines may be a little blurred!;)
HTH

[Decolar]

767 FO - I have absolutely no doubt that it is a significant problem. Wasn't there a recent arrest of the son of the Korean Air group boss? BTW, after 14 months in Seoul, did you find work elsewhere? Seoul seems like one of the better Asian cities for expats.

Chambo,

>> neither are directly subsidised by the Korean Government but of course we are talking big business here<<

I flew into ICN and it seemed that both Asiana and KAL had so many different types of aircraft parked at the terminal, or taking off and landing, so the thought crossed my mind that their expenses are partially covered by the government. Who knows, right?

FWIW, the new ICN airport leaves a positive impression. I've flown some trips there recently, and found the staff courteous and efficient. ATC has been helpful, had to get weather deviation on climbout which was handled well by Dep Ctl. With the new runway opening by the end of this month, things should improve further.

[SpaceNeedle]

The KAL chairman was actually indicted for tax evasion and fraud years ago but somehow wriggled off the hook. The Seoul goverment is always ready to bail out such big wigs in the corporate world ..........also the culprit is an honorary Korean consul of Ireland!