Korean Air CEO Flags Jet Shortage Amid Trade Uncertainty

The CEO of Hanjin Group, parent company of Korean Air, says the airline is short of aircraft despite ongoing trade tensions and signs of softening passenger demand. In an interview with CNBC, Walter Cho revealed that Korean Air is currently short by five to six aircraft, forcing the carrier to cut routes to maintain its schedule. He added that supply chain issues, particularly engine shortages, have grounded several aircraft.

According to ch-aviation data, Korean Air operates 169 aircraft, but 23 are currently out of service. These include multiple Airbus and Boeing models such as A220-300s, A330s, A380s, Boeing 737-8s, 777-200ERs, and 747-8s.

Cho said a recent order for 40 Boeing aircraft was made independent of U.S.–South Korea trade negotiations. “We needed new aircraft, and we bet on Boeing,” he stated. “We’ve used their planes for 55 years. I have full trust in them.” Cho acknowledged Boeing’s production delays but expressed confidence the manufacturer would resolve them soon.

Korean Air expects to receive 15 aircraft this year, although specific models were not disclosed. The airline currently has 203 aircraft on order, including Airbus A321s, A350s, and Boeing 737 MAX, 777-9, and 787 variants.

While passenger demand is slightly easing due to increased competition, Cho noted that Koreans are still traveling heavily to Japan, and U.S.-bound traffic is softer. However, cargo demand remains robust. He added that Chinese aircraft manufacturer COMAC has potential, but Korean Air is not yet considering orders, given its existing long-term fleet commitments.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com