
Korean Air says it is moving into emergency management mode to buffer the impact of surging jet fuel costs as the global economy is rocked by the ongoing US-Israel war with Iran.
A spokesperson for the national flag carrier said on Tuesday that it will implement "internal cost-reduction measures" to manage its finances to ensure the firm's "stability amidst rising fuel prices and global economic uncertainty".
Since the Iran war started on 28 February, Brent crude oil has risen by more than 50% to over $110 (£83.33) a barrel, sending the cost of jet fuel sharply higher.
Employees of the country's largest airline were first notified about the measures in a memo that has been seen by the BBC.
Vice Chairman Woo Ki-hong told staff members "we plan to switch to an emergency management system" in April to "prepare for rising costs due to a surge in fuel expenses".
The airline will "pursue company-wide cost efficiency" through measures based on the price of oil, Woo said.
The moves are "not merely one-time cost-cutting initiative but rather an opportunity to strengthen our structural foundation", he said.
South Korea is particularly vulnerable to disruptions to energy supplies from the Middle East as it is heavily reliant on oil and gas from the Gulf.
The country's second-largest carrier, Asiana Airlines, and budget airline Busan Air have also entered emergency management mode.
All three airlines are owned by the South Korean conglomerate Hanjin Group.
The average price of jet fuel rose to nearly $200 (£151.45) a barrel on 20 March, more than double what it was in February, according to the latest International Air Transport Association figures.
In Asia trade on Tuesday, energy prices edged up, with Brent crude rising by 0.3% to just over $113 a barrel.
The price of US-traded oil rose 0.2% to $103. On Monday, it closed above $100 a barrel for the first time since the conflict began.
Additional reporting by Leehyun Choi in Seoul
LATEST POSTS
- 1
Yoshi mania, Happy Meals and not-so-great reviews: A small talk guide to 'The Super Mario Galaxy Movie' - 2
Iranian-backed militias escalate in Iraq, targeting Kurdistan Region president Nechirvan Barzani - 3
The Drone Video of the Year is stunning – you've not seen Namibia like this - 4
Interstellar comet 3I/ATLAS isn't an alien spacecraft, astronomers confirm. 'In the end, there were no surprises.' - 5
Figure out What Experience Level Means for Medical caretaker Compensation Dealings
Changing Negative Cash Mentalities: Enabling Your Monetary Excursion
Transcript: NASA's Jared Isaacman on "Face the Nation with Margaret Brennan," April 5, 2026
Vote in favor of Your #1 4\u00d74 SUVs
Explainer-What will change with the US reclassification of marijuana?
6 Robot Vacuum Cleaners for Easy Home Cleaning
IDF drops over 80 explosives on Tehran weapon production sites in latest strike
Watch interstellar comet 3I/ATLAS make its closest approach to Earth in free livestream on Dec. 18
OPEC’s No. 2 Producer Burns Its Own Gas—Then Buys Iran’s
'Inflaming tensions': Bedouin mayor slams Ben-Gvir's unauthorized visit after meeting cancellation













