Korean Air to buy 10 more cargo planes

  • Business
  • Thursday, 06 Jul 2006

SEOUL: Korean Air Co plans to add about 10 cargo planes from 2010 to 2015 to meet rising global demand, which it projects will grow by 6.5% a year. 

Korean Air, which operates 24 cargo planes, was ranked the world's top commercial air-cargo carrier by the International Air Transport Association (IATA) for the second consecutive year. It recorded about eight billion freight tonne-kilometres in 2005. 

“We plan to purchase about two new airplanes every year from 2010 to 2015, and reach a total of about 40 cargo planes,” Ken Choi, president of Korean Air's cargo business told Reuters in Seoul yesterday. 

Global air-cargo demand was expected to maintain a growth of 6.5% a year for a while, with China's demand rising about 15% annually, Choi said. 

The company, which vies in the cargo business with Singapore Airlines and Germany's Deutsche Lufthansa, is set to convert eight B747-400 passenger aircraft into cargo planes by 2009 before it starts buying new planes. – Reuters  

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