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☆ Hyundai Motor Group air taxi unit plans US manufacturing facility
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Nov 8 (Reuters) - Hyundai Motor Group's air taxi unit Supernal plans to build a manufacturing facility in the United States to make flying electric taxis for commuters, the South Korean auto group said on Wednesday. Electric air taxi-makers worldwide have pitched themselves as clean alternatives to decongest cities, attracting investment from airline heavyweights such as Delta Air Lines Inc (DAL.N) though they are still a long way away from commercial operations. Shin said the eVTOL taxi would be capable of flying at 120 mph (193 kph) and have capacity for a pilot and four passengers, targeting December 2024 for a test flight. Hyundai Motor, Kia Corp (000270.KS) and Hyundai Mobis (012330.KS), have together invested 1.2 trillion won ($915.70 million) in Washington-based Supernal since its establishment in 2021, according to regulatory filings. Last month, Hyundai Motor Group signed an agreement with Korean Air Lines (003490.KS) to work together to accelerate the design of electric eVTOL vehicles and air mobility ecosystem in South Korea.

Persons: Shin Jaiwon, Shin, 1,310.4700, Heekyong Yang, Robert Birsel Organizations: Hyundai, South Korean, Supernal, Bloomberg, Electric, Delta Air Lines Inc, Kia Corp, Hyundai Motor Group, Korean Air Lines, Thomson Locations: SEOUL, United States, Las Vegas, Washington, South Korea

Analysts said, however, that Asiana's greenlighting of the cargo unit sale did not necessarily ensure smooth sailing ahead for the deal. They noted the desired valuation for the air cargo unit of some 700 billion won ($520 million) including debt, as reported by local media, was probably too high. Approving the sale was a contentious issue at Asiana amid concerns that a takeover by Korean Air would lead to the loss of many Asiana jobs. Korean Air also said it will buy 300 billion won of convertible bonds issued by Asiana, part of fresh financial support to the smaller airline. The company accounts for about a fifth of South Korea's market for overseas air cargo.

Persons: Bae, Asiana, IAG, 1,342.9900, Joyce Lee, Heekyong Yang, Hyunsu Yim, Edwina Gibbs Organizations: Asiana Airlines, Korean Air Lines, Korean Air, country's, European, Analysts, Hi Investment, Securities, European Union, European Commission, Air, Lufthansa, ITA Airways, British Airways, Spanish, Korea Development Bank, Asiana, Thomson Locations: SEOUL, KS, Korean, Union, United States, Japan, Asiana, Iberia, Germany, Russia

☆ Asiana Airlines shares jump ahead of board meeting on merger with Korean Air
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

If approved, the move might help South Korea's biggest carrier Korean Airlines (003490.KS) to win European Union antitrust approval for acquiring Asiana Airlines. Asiana Airlines said on Friday that it would hold a board meeting on Monday to discuss whether to accept Korean Air's proposal to the EU, according to its regulatory filing. Reuters reported earlier that Korean Air would offer to sell Asiana's air cargo business and divest routes to four EU cities. Separately, Korean Air will convene a board meeting on Monday, said a company official who declined to share further details. At the board meeting, the carrier is expected to finalise a revised proposal to gain EU approval for its merger with Asiana Airlines, Maeil Business Newspaper reported.

Persons: Heekyong Yang, Ed Davies Organizations: Korea's Asiana Airlines, Korean Air Lines, Korea's, Korean Airlines, Asiana Airlines, Reuters, Korean Air, Maeil Business, Thomson Locations: SEOUL, Korea's, KS, Asiana

☆ Here’s What Happens When Your Lawyer Uses ChatGPT
▼ + stars: | 2023-05-27 | by ( Benjamin Weiser | ) www.nytimes.com time to read: +1 min

The lawsuit began like so many others: A man named Roberto Mata sued the airline Avianca, saying he was injured when a metal serving cart struck his knee during a flight to Kennedy International Airport in New York. When Avianca asked a Manhattan federal judge to toss out the case, Mr. Mata’s lawyers vehemently objected, submitting a 10-page brief that cited more than half a dozen relevant court decisions. There was Martinez v. Delta Air Lines, Zicherman v. Korean Air Lines and, of course, Varghese v. China Southern Airlines, with its learned discussion of federal law and “the tolling effect of the automatic stay on a statute of limitations.”There was just one hitch: No one — not the airline’s lawyers, not even the judge himself — could find the decisions or the quotations cited and summarized in the brief. That was because ChatGPT had invented everything. The lawyer who created the brief, Steven A. Schwartz of the firm Levidow, Levidow & Oberman, threw himself on the mercy of the court on Thursday, saying in an affidavit that he had used the artificial intelligence program to do his legal research — “a source that has revealed itself to be unreliable.”

☆ US weighs suit against Korean Air’s planned acquisition of Asiana -Politico
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +3 min

May 18 (Reuters) - The U.S. Justice Department is considering suing to block Korean Air's (003490.KS) planned acquisition of Asiana Airlines (020560.KS), Politico reported on Thursday. In response to the report, Korean Air said the Justice Department had not made any official decision, adding the South Korean airline would continue its dialogue with the U.S. government until a final decision is made. "Korean Air has made, and continues to make, every effort to obtain all necessary approvals," the company said in a statement to Reuters. EU antitrust regulators said on Wednesday that Korean Air Lines' proposed acquisition of rival Asiana may restrict competition in passenger and cargo air transport services between Europe and South Korea. The merger between South Korea's no.1 and no.2 airlines would see Korean Air become the biggest shareholder in indebted Asiana.

☆ U.S. weighs suit against Korean Air’s planned acquisition of Asiana, Politico reports
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

May 18 (Reuters) - The U.S. Justice Department is considering suing to block Korean Air's (003490.KS) planned acquisition of Asiana Airlines (020560.KS), U.S. news website Politico reported on Thursday. The U.S. Department of Justice has been investigating the November 2020 deal for roughly two years, and is concerned that it will hurt competition on overlapping routes to the United States, the report said citing three people with knowledge of the deliberations. EU antitrust regulators also said on Wednesday that Korean Air Lines' proposed acquisition of rival Asiana may restrict competition in passenger and cargo air transport services between Europe and South Korea. The deal, announced by Korean Air in late 2020, would see it become the biggest shareholder in indebted Asiana, the biggest shake-up in the country's aviation industry in nearly three decades. Reporting by Kanjyik Ghosh in Bengaluru; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Korean Air's Asiana bid may restrict competition -EU regulators
▼ + stars: | 2023-05-17 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, May 17 (Reuters) - Korean Air Lines's (003490.KS) proposed acquisition of rival Asiana (020560.KS) may restrict competition in passenger and cargo air transport services between Europe and South Korea, EU antitrust regulators said on Wednesday. The European Commission said it had sent a statement of objections outlining its concerns, confirming a Reuters story last week. The EU competition enforcer said it had sought feedback from rival airlines, potential market entrants and customers on the potential impact of the deal. "The transaction may reduce competition in the provision of passenger transport services on four routes between South Korea and France, Germany, Italy and Spain," it said in a statement. It said the deal may also reduce competition in the provision of cargo transport services between all of Europe and South Korea.

☆ Korean Air plane overshoots runway, closing Philippine airport
▼ + stars: | 2022-10-24 | by ( Associated Press | ) www.nbcnews.com time to read: +2 min

MANILA, Philippines — A damaged Korean Air plane remained stuck in the grass at a central Philippine airport Monday after it overshot a runway in rainy weather the night before. “We always prioritize safety in all of our operations, and we truly regret the stress and inconvenience brought to our passengers,” Korean Air President Woo Keehong said in a statement. Authorities were also assessing if the other aircraft that are stranded at the airport could be allowed to fly out safely. The Airbus A330 flying from Incheon, South Korea, attempted to land twice before overrunning the runway on the third attempt, Korean Air Lines Co. said in a statement. In 1981, a Korean Air Lines Boeing 747 jetliner overshot the runway while taking off from Manila’s international airport and skidded to a stop at the edge of a major highway.

☆ Korean Air says jet overran runway in Philippines, no injuries reported
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +2 min

Oct 24 (Reuters) - A Korean Air Lines Co Ltd (003490.KS) jet with 173 people on board overshot the runway at Cebu International Airport in the Philippines late Sunday, the airline said, adding that there were no injuries and all passengers had evacuated safely. The Airbus SE (AIR.PA) A330 widebody flying from Seoul to Cebu had tried to land twice in poor weather before it overran the runway on the third attempt at 23:07 local time, Korean Air said in a statement on Monday. "Passengers have been escorted to three local hotels and an alternative flight is being arranged," the airline said of flight KE361. Korean Air President Keehong Woo issued a letter of apology regarding the flight on the airline's website, noting that a thorough investigation would be performed with local aviation authorities and Korean authorities to determine the cause. Korean Air has not had a fatal passenger crash since 1997, according to Aviation Safety Network, a website that compiles aviation accidents.

☆ Bloomberg: Поведение Беларуси ставит под угрозу будущее глобальной авиации
▼ + stars: | 2021-05-27 | by ( Mld Media Srl | Степанов Георгий | ) noi.md time to read: +5 min

Служба контроля воздушного пространства Беларуси сообщила об угрозе для безопасности, когда рейс из Афин в Вильнюс проходил через белорусскую территорию. Более 60 российских самолетов только за этот год незаконно проникли в воздушное пространство Аляски. Евросоюз в понедельник посоветовал своим авиакомпаниям избегать воздушное пространство Беларуси. В 1983 году 269 человек на борту рейса 007 компании Korean Air Lines Flight погибли из-за того, что самолет зашел в советское воздушное пространство. Если похищения самолетов в стиле Беларуси станут популярными, как когда-то в 1970-х, наиболее пессимистичные прогнозы относительно будущего авиации могут оказаться слишком радостными.

Persons: unian.net, Роман Протасевич, Джо Байден Organizations: Ryanair, Bloomberg, Trump National Golf, Korean Air Lines, ВВС, НАТО, Федеральная авиационная администрация Locations: Беларусь, Афины, Вильнюс, Минск, НьюДжерси, Делавэр, Россия, Аляска, США, Китай, Саудовская Аравия, Евросоюз, Брюссель, Ближний Восток, Ливия, Иран, Северная Африка, Афганистан, Пакистан, Украина, Северная Корея, Филиппины, Венесуэла, Япония, Пхеньян, СССР, Лондон, Токио, Анкоридж, Сибирь

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