Korean Air's chairman and chief executive, Walter Cho, noted the aviation industry's comeback in 2023 while he emphasized the importance of gaining a competitive edge as the aviation industry normalizes post-COVID.
In his New Year's address to the Korean Air team, Cho also confirmed the company's plans to successfully complete the acquisition of Asiana Airlines in 2023.
"We've seen a glimpse of normalization, and the airports are beginning to bustle with passengers we have missed dearly. We also found hope and pleasure in returning to work to see our colleagues," Cho said.
The Korean Air chief also urged the carrier's team to fully understand the market needs to keep up with the market demands.
"We need to identify in advance our customers' preferred destinations and services and analyze when and where to add operations as well as which services to enhance," Cho added.
Amidst the growing economic uncertainties, Cho assured that the airline is confident and ready to move forward.
"There have been numerous challenges on our way, but we've always overcome and leveraged them to create new opportunities. We're armed with more than half a century of experience and will use this insight to address our future," the Korean Air chief further said.
Completion of the Asiana acquisition
"2023 is a pivotal year for completing the huge task of closing our acquisition of Asiana Airlines. We are in the last stage, with the remaining overseas competition authorities reviewing the merger," Cho added.
He also emphasized Korean Air's environment, social and governance (ESG) duties as a responsible member of society.
"ESG management is no longer a choice but mandatory to the survival of our future," Cho said.
"We've always been committed to the well-being of our society. Introducing eco-friendly aircraft, reducing waste through increased in-cabin recycling, and operating an ESG committee to improve governance are all part of our efforts to support our social responsibility. We will not stop here but continue to make Korean Air a responsible company that fulfils its corporate responsibilities and is beloved by its customers," he added.
