By Hyunjoo Jin
By Hyunjoo Jin
SEOUL, March 9 (Reuters) – Korean Air Traces 003490.KS has warned that the coronavirus outbreak might threaten its survival after greater than half of the world restricted passengers getting into from South Korea.
Woo Kee-hong, Korean Air’s president, stated greater than 80% of South Korea’s largest service’s worldwide capability had been reduce because of journey restrictions globally, in contrast with a 18% reduce made throughout the 1997-1998 Asian monetary disaster.
“We are able to simply think about the severity of the disaster we face as compared. And what’s extra daunting is that the scenario can worsen at any time and we can not even predict how lengthy it’ll final,” Woo stated in a memo to workers dated on Monday.
Woo stated Korean Air had grounded about 100 of its 145 passenger plane.
Self-help measures included deferring investments, reducing down on operational bills and inspiring workers to take voluntary go away, he…