UAM and Air Navigation Continue to be Key to the KAC Business

Justin Lee

Singapore

November 18, 2024

Gimhae

© 螺钉 / Wikipedia

The airports operated by Korea Airports Corporation (KAC) are moving close to recovery from the COVID-19 pandemic. The airport operator also continues to develop its businesses in vertiports and air navigation equipment.

For the first 10 months of 2024, Korea Airports Corporation’s airports in South Korea have made remarkable progress in terms of recovery, with total passenger traffic for the Jan-Oct 2024 period at 67.8 million, a 4.8% increase compared to the same period in 2024 and just 94% that of 2019 pre-COVID levels.

The improvement in passenger traffic for the year 2024 should translate into increased profitability for the Group, which has been recording losses for four consecutive years since 2020 due to the impact of the COVID-19 pandemic.

According to the public institution management information disclosure system Alio, Korea Airports Corporation recorded sales of KRW850.2bn and an operating loss of KRW2.096bn on a consolidated basis in 2023.

Gimpo v2

© gary4now / Wikipedia

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