Korean Air cargo sales up 66% in 2020, freighter operation rate up 25%

    Korean Air reported (04-Feb-2021) cargo sales increased 66% year-on-year in 2020 due to increased demand for COVID-19 diagnostic kits and automotive parts, and the shift of some demand from sea to air cargo. The positive performance was supported by strong air cargo rates, resulting from high demand and reduced global capacity. The airline fully utilised its fleet of 23 freighters, increasing its operation rate by 25%. The carrier operated additional charter services and modified passenger aircraft for cargo operations, transporting cargo on more than 4500 services. Korean Air plans to strengthen its cargo business strategy as the market recovers by adjusting capacity and proactively responding to changes in the market. The airline expects COVID-19 vaccine transport to grow sharply from 2H2021 as vaccines become widely available.

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