Source: Reuters Author: Jean Yoon, Meil Chatterjee 06/07/2009
Subject Concerned: Aircraft Airlines Plane Crash Cargo
Korean Air, the world's largest air cargo carrier, said on June 7 that cargo demand had hit bottom, but there would not be a recovery until U.S. consumers resumed buying Asian goods.
"I think we have hit the bottom," CEO Cho Yang Ho told Reuters on the sidelines of an aviation conference in Kuala Lumpur.
He said also that the airline had no plans to alter any orders with Airbus as long as the airplane manufacturer continued deliveries on time.
Korean Air has 10 Airbus A380s on order. It also had US$7.8 billion worth of orders with Boeing as of March.
Cho said Korean Air had no plans to ground any of its three Airbus A330s following the crash last week of an Air France A330 in the Atlantic, the worst air disaster since 2001.
"It's a good aircraft. I believe it was an isolated case," he said.