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Korean Air SWOT & PESTLE Analysis

ID : 52793453| Jul 2021| 18 pages

COMPANY PROFILE -Korean Air

Business Sector :Aviation

Operating Geography :Incheon, Korea, Asia, Global

About Korean Air :

Korean Airlines is the largest airline and flag carrier of South Korea based on fleet size, international destinations and international flights. The Korean airline is the largest airline of South Korea. It ranks amongst the leading 20 airlines of the world in terms of cargo as well as passengers. The airline operates mainly from the Incheon International Airport, Korea’s primary international hub. The global headquarters are located in Seoul, South Korea with a satellite headquarter situated in Incheon.
The airline was started by the government of Korea in 1962 but in 1969 the company was suffering through the losses. The government decided to privatize the Korean airline. The Hanjin Group founded by Mr. Choong Hoon Cho took over the Korean Air on March 1, 1969. The global airline alliance which was formed in 2000 Korean Air is a founding member airline of SkyTeam. Korean Airline completed 50 years in the market in 2019. The company offers services in 44 countries, 125 destinations and has a Fleet size is of 169 (as of July 2019).

Korean Air Revenue :


US$ 11,645 million FY ending 31st March 2019
US$10,814 million - FY ending 31st March 2018

Competitive Analysis of Korean Air

SWOT
PESTLE
The SWOT analysis of Korean Air is presented below:
Strengths
Weaknesses
1. Strong global presence with various international bases and also enjoys a robust brand reputation
2. Korean Air expanded its baggage notification services
3. High quality of services offered to passenger and freight segments
4. The airline operates a broad range of business segments
1. Scandal and wrongdoing by Cho’s family may erode brand trust
2. Korean Air is involved in various legal proceedings and lawsuits
Opportunities
Threats
1. Expand and grab larger market share through acquisitions
2. Improve infrastructure and equipment while adopting new and advanced technologies
3. Growing tourism in Korea creates opportunity to expand operations
1. Increasing competition in Korean aviation from LCC segment
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Detailed SWOT Analysis of Korean Air

 

Strength

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Weakness

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Opportunity

1. Expand and grab larger market share through acquisitions: Korean Air can further expand its operations and bases by conducting mergers and acquisitions. In 2021, Korean Air completed its acquisition of Asiana Airline along with Hanji Group. The company created 20 working groups consisting of 100 experts from different fields at the company, and together with law and accounting firms, reviewed documents and conducted staff interviews at Asiana Airlines and its 10 affiliates for about three months from the beginning of December 2020. Korean Air created the post-merger integration (PMI) plan after thoroughly conducting due diligence with the support and cooperation of the Korea Development Bank and Asiana Airlines and submitted it to the Korea Development bank in March 2021. The PMI plan was submitted to the Korea Development Bank on March 17, and it is currently being modified and updated. This merger will allow Korean Air to establish an effective global passenger network around Incheon airport while supporting the airport’s growth and development as Northeast Asia’s hub airport. Cargo operations will also benefit from efficient integration of aircrafts, strengthening the connection network through Incheon airport, promoting it as a logistics hub in Asia. Through this acquisition, Korean Air will also be able to increase profitability by streamlining redundant routes, strengthening connectivity and maximize the benefits of this joint venture. The merger will also increase the economies of scale in terms of costs, consolidation of facilities, sales organization, aircrafts and terminals. Through more such mergers, Korean Air can take up a larger market share in the future.

2. Improve infrastructure and equipment while adopting new and advanced technologies: The Korean airline maintains aviation Safety Management Systems (SMS) for a safer working environment. As the technology has progressed, Korean Air along with IBM have built an air’s maintenance defect analysis system. Due to this the airline has reduced the number of flight delays and cancellations caused by maintenance issues. This has increased the customer satisfaction and operating efficiency. In 2019 the company will also run the B737 MAX 8 to enhance its competitiveness to meet the increasing consumer demand. The company has also ordered 30 new Boeing 787 planes which will help in satisfying the increasing consumer flow. Korean Airlines has also joined hands with IBS Software's iCargo to improve its cargo management. The web solution is now live at 130 locations allowing Korean Airlines to have complete control over the movement of its cargo.

The remaining section of “Opportunity” is available only in the 'Complete Report' on purchase.

Threat

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

  • Kenya Airways
  • Qantas
  • Air China
  • Thai Airways International Public Company
  • Air India
  • Air New Zealand.
  • Singapore Airlines.
  • Royal Air Maroc

Major Brands :

  • Air Korea
  • Air Total Service
  • CyberSky
  • Global Logistics System Korea
  • HIST
  • Jin Air
  • Korea Airport Service
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References used in Korean Air SWOT & PESTLE Analysis Report

1. Korean Air financials - https://www.wsj.com/market-data/quotes/KR/XKRX/003490/financials

2. Korean Air Company Profile - https://www.reuters.com/companies/003490.KS

3. Korean Air Investor Relations - https://www.koreanair.com/global/en/about/economic-responsibility-investor-relations.html

4. Korean Air Sustainability report 2020 - https://www.koreanair.com/content/dam/koreanair/en/documents/AboutKoreanAir/InvestorRelations/Sustainability/Sustainability_report_EN.pdf

The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Korean Air SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2021). Korean Air SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/korean-air/ [Accessed 27 Oct, 2021].

In-text: (SWOT & PESTLE.com, 2021)

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Korean Air SWOT and PESTLE analysis has been conducted by Muskan Arya and reviewed by senior analysts from Barakaat Consulting.

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