Prolonged High Oil Prices Due to Middle East Crisis... Korean Air Also Declares Emergency Management

Internal Notice from Vice Chairman Woo Ki-hong

"Promoting Company-wide Cost Efficiency"

Korean Air, the nation's largest airline, is also entering an emergency management system due to the deteriorating external environment caused by the war in the Middle East. Among domestic airlines, this marks the third case of emergency management, following T'way Air and Asiana Airlines.

Woo Ki-hong, President of Korean Air, is answering questions from the press after the 22nd Tourism Industry Committee held at Lotte Hotel in Jung-gu, Seoul on the 20th. Photo by Hyunmin Kim kimhyun81@

According to the airline industry on March 31, Woo Ki-hong, Vice Chairman of Korean Air, announced through an internal notice that the company will implement an emergency management system starting in April.

Vice Chairman Woo stated, "In order to prepare for increased costs resulting from a surge in fuel prices, we will switch to an emergency management system as of April and immediately implement phased response measures according to oil price levels, with the aim of enhancing company-wide cost efficiency."

He added, "Our refueling unit price for April is expected to reach around 450 cents per gallon, which significantly exceeds the business plan's standard price of 220 cents per gallon, leading to a substantial increase in monthly fuel expenses."

Vice Chairman Woo emphasized, "These measures are not just one-off cost-saving efforts, but an opportunity to strengthen our structural foundation, successfully complete our integration, and establish a stable basis for future growth. I urge all division leaders and members to actively participate in the phased response measures under the emergency management system."

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