Korean Air achieved a net profit of KRW428b (US$378m) for Q3, reversing a loss of KRW510b in the year-ago period. Preliminary figures show an operating profit of KRW447.6b, which would surpass Q3 of 2010 as Korean’s best-ever quarterly result. The Q3 2016 operating profit was 35% higher year-on-year, and the airline’s revenue increased 4.7% to over KRW3t. While full details are scheduled to be released in November, Korean confirms that passenger traffic was up 14% in the quarter, with an increase of 27% on China routes. The carrier revealed it has lost KRW825b related to its support of sister company Hanjin Shipping over the first 3 quarters of this year. However, the airline said it will not provide further financial support to Hanjin as the shipping company is under court receivership. <br/>
sky
Last year, Delta Air Lines unveiled a unique experiment in upgrades. It gave its very frequent flyers a chance to book a seat most can only dream of—on a private jet. For a few hundred dollars more, the dream could become reality. The carrier later backed away from the offer and is now transforming it into the ultimate frequent flier point spend. Delta briefly offered US$300-$800 paid upgrades to private jets last summer, a viable option when a customer’s travel plans aligned with the smaller aircraft’s journey. The trouble with making this work was logistics. Now Delta has a new twist on how to move passengers to its private jet subsidiary: Get time on private jets by cashing in miles. Delta said the program will include all of the roughly 5,000 airports at which DPJ now flies. <br/>
Tarom will go through a restructuring process next spring, according to Ionut Mosteanu, a state secretary in the Transport Ministry. “Even if it is painful, it has to be assumed by the next govt,” he said. Mosteanu also said that it was necessary for the future management of Tarom to be granted “certain exceptions” to rapidly intervene when it’s the case and to be able to fight with competitors. The company will record losses this year too, and it will be for the ninth year in a row. A consultancy contract will be signed soon, and next spring an international consultant will come out with a report that will make recommendations for Tarom’s market positioning. “Before we put money in a new fleet, we need to restructure the company,” the state secretary added. <br/>