KOREAN Air's rising earnings, fuelled by increased cargo volume driven by the success of Chinese e-commerce firms in the region, reported Korea Times
According to data and industry officials, the quantity of goods transported by a group of 11 local carriers on international flights reached 2.33 million tons in the first 10 months of this year, up 12.4 per cent year on year.
This helped the carriers report solid profit growth in the third quarter. According to a regulatory filing by korean Air, the nation's flag carrier chalked up robust cargo sales growth of 22 per cent between July and September from a year earlier.
Buoyed by the cargo business growth, the airline achieved record quarterly sales of KRW4.24 trillion (US$3.02 billion) in the third quarter, up 10 per cent year on year.
Industry officials attributed the cargo growth to the increased access of Korean shoppers to overseas purchases through Chinese e-commerce platforms, such as AliExpress and Temu.
'No one can dispute that it has become much easier for local customers to purchase overseas goods via such platforms at super-cheap prices,' an aviation industry official said.
'Even if it is hard to pinpoint how much the platforms account for airlines' cargo business growth, they are expected to have had a considerable impact, as the third quarter is widely considered the slow season for the cargo business.'
SeaNews Turkey
According to data and industry officials, the quantity of goods transported by a group of 11 local carriers on international flights reached 2.33 million tons in the first 10 months of this year, up 12.4 per cent year on year.
This helped the carriers report solid profit growth in the third quarter. According to a regulatory filing by korean Air, the nation's flag carrier chalked up robust cargo sales growth of 22 per cent between July and September from a year earlier.
Buoyed by the cargo business growth, the airline achieved record quarterly sales of KRW4.24 trillion (US$3.02 billion) in the third quarter, up 10 per cent year on year.
Industry officials attributed the cargo growth to the increased access of Korean shoppers to overseas purchases through Chinese e-commerce platforms, such as AliExpress and Temu.
'No one can dispute that it has become much easier for local customers to purchase overseas goods via such platforms at super-cheap prices,' an aviation industry official said.
'Even if it is hard to pinpoint how much the platforms account for airlines' cargo business growth, they are expected to have had a considerable impact, as the third quarter is widely considered the slow season for the cargo business.'
SeaNews Turkey
