Airlines to Lose W800 Billion in Boycott of Japan

  • By Kim Kang-han

    November 12, 2019 13:04

    A boycott of Japan here has taken a toll on Korean airlines, which make a lot of their money from flights to the neighboring country.

    According to the Korea Civil Aviation Association on Monday, Korean carriers' losses are expected to rise to nearly W800 billion this year as Koreans shun trips to Japan amid a spat between the two neighbors (US$1=W1,167).

    "The number of passengers on routes to Japan plunged 43 percent on-year in October, and airlines are expected to suffer losses of W782.9 billion on international routes this year," a KCA official said.

    The KCA also called for government help similar to subsidies provided when the aviation industry was hit by the MERS outbreak in 2015 and the global financial crisis a decade ago.

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