South Korea: Airlines struggle to tide over virus impact

South Korean airlines, one of the hardest-hit industries by the outbreak of the new coronavirus, are taking unprecedented measures, such as unpaid leave, job cuts and asset sales, to overcome the COVID-19-triggered crisis, industry sources said Wednesday. Korean Air Lines said Tuesday it will have 7 out of 10 workers take paid leave for six months beginning April 16 as part of the company's self-help efforts. In other self-rescue plans announced last month, Korean Air said executives' salaries will be reduced by up to 50% beginning in April and the wage cut will continue until the business is back on track. The company said it will make stepped-up efforts to raise funds by selling more assets on top of parent firm Hanjin KAL Corp.'s previously announced sale of low-profit, non-core assets. Asiana on Tuesday increased the limit on its credit line with two state lenders by 300b won ($245m) to 1.1t won to pay maturing debts and secure operating capital. In its self-help plans released last month, Asiana said it will have all of its 10,500 employees take unpaid leave for 15 days in April and executives return 60% of their wages. Among the country's seven low-cost carriers, Eastar Jet Monday came up with a plan to cut 20% of its 1,680 workers and to return 10 out of 23 B737-800 aircraft to leasing companies.<br/>