Korean Air announced (09-Jan-2012) the carrier will be taking delivery of nine aircraft in 2013, including two A380 aircraft. The A380s are expected for delivery in Jul-2013 and Oct-2013, respectively. From this year until 2018, the carrier plans to add 53 new aircraft to its fleet. Korean Air fleet comprises 148 aircraft as of Jan-2013. Fleet details for 2013 include:
Korean Air to add nine aircraft to fleet in 2013, to take delivery of two A380s
You may also be interested in the following articles...
Global Fleet Outlook: Deliveries peak, as order highs decline.
Airlines are set to add more new aircraft than ever before in 2017. After years of record ordering and building backlogs, aircraft manufacturers are making good on their promises to ramp up production. The industry is enjoying record levels of growth and profitability; with solid passenger market fundamentals, and both airlines and leasing companies having access to ready liquidity, cheap debt and plentiful equity capital, making financing fleet orders easier than at any time before the global financial crisis.
Korean Air's dangerously high debt requires it to shore up confidence. Delta investment would help
Korean Air's strategic positioning is precarious as its main Asia-North America segment faces competition from competitors on both sides of the Pacific. The situation is worsened by financials hammered by the bankruptcy of the Korean Air subsidiary Hanjin Shipping.
Yet even before, Korean Air's debt neared 1,000% and available cash covers only a month of revenues. The market does not have confidence in Korean Air's attempt to fix its liquidity position, and the Cho family that established, and still manages, Korean Air faces sticky scandals. As Korea is in political and business upheaval, chaebol conglomerates are no longer sacred.
Delta Air Lines to the rescue? With strategy and financials battered, Korean Air views Delta's long sought partnership more favourably than it did a few years ago when Korean Air was on a high and seemingly did not need its pushy SkyTeam cousin. Delta may be offering to inject equity into Korean Air, and perhaps will not partner without equity involved.