How is air traffic, particularly business travel, to Korea developing?
Ludovic Froidure - The new Korean president quickly lifted the quarantine measures last June. As a result, over the summer we witnessed a influx of travellers who had not been able to come before. Demand was very strong, even though all capacities had not yet been restored. Visit business segment has also picked up, even if summer is not the most favourable time of year. As the announcement was relatively sudden, business travellers also needed to organise their meetings. But we are now seeing a strong recovery in September and October. Especially as tests are no longer required to Korea: there's no longer the worry of having to cancel your trip right up until the start. So the corporate market is picking up. France is very strong in the luxury sector and there's been a resurgence, as symbolised by the annual fashion show organised by Dior in Paris. Seoul. This is not neutral. There's also the whole industrial sector, with the importance of the shipyards of Busan This is particularly the case given the new gas supply requirements that have emerged in recent months, with the need to find alternatives to Russian pipelines.
Is activity on the French market heading towards 2019 levels?
Ludovic Froidure - Before Covid, we flew daily to Paris by A380. During the pandemic, we dropped to two flights a week. We returned to daily service on 1 July, but with a 277-seat Boeing 777, compared with the 407-seat A380. Nevertheless, we will be reopening our First Class in Paris on 1 October, as it is a very important service for our customers. strategic destinationparticularly in the luxury sector. We'd like to relaunch the A380, of course, but now there's the Russian parameter, with flight times extended by an hour, and the bill is particularly high with a four-engined aircraft. With fuel prices also on the rise, the equation is a difficult one...
How do you see the coming weeks?
Ludovic Froidure - The momentum is good, with good commitments until the end of October, but travellers are not booking far in advance. We relaunched Vienna and Milan in July, and have just announced Barcelona and Rome with three flights a week since September. We will be launching Budapest at the end of October, and resuming flights to Dubai and Tel Aviv: things are picking up, but it will take time, if only to market our offer and fill our aircraft.
The brand new level 5 certification recently awarded to Incheon should give you guarantees for the future...
Ludovic Froidure - We don't yet have a great deal of perspective on this announcement, which has just been made. But it's clear that obtaining this fifth level of certification, which hasn't existed until now, and especially from a global player like ACI to drive forward industry standards, is reassuring. We know that when passengers arrive atIncheonAll our customers, whether at their final destination or in transit, receive maximum attention. It's a fabulous working tool, and there are still plans to extend and upgrade it.
What stage has been reached in the planned acquisition of Asiana?
Ludovic Froidure - As a reminder, Asiana was of interest to two potential acquirers. However, given the uncertain economic climate during the crisis, the investors decided not to proceed. The company was in serious financial difficulties. Korean Air therefore offered to buy Asiana in November 2020. But this requires the agreement of all the competition authorities. We now need to obtain the agreement of four key stakeholders: the United States, Japan, China and Europe. The aim is to ensure that a degree of competition can continue. We hope that this will be the case by the end of 2022. If the project is approved, Asiana to be fully integrated into Korean Air within two years, and exit Star Alliance. Even though we are aware that the project may be rejected, as the example ofAir TransatWe hope that this will happen as quickly as possible, because there are some very real problems to be solved. synergies between the two airlines. To Paris, for example, we have a daily frequency and Asiana five flights a week. This would enable us to offer different schedules on the same day, optimised schedules.
