Delta Air Lines has a high level of trust in Cho Won-tae, chairman of Hanjin Group, and the management. I understand that the Hohwa Group recently increased its equity in Hanjin KAL for investment purposes, which I think is a very natural phenomenon.
Jeff Mumau, vice president of Delta Air Lines for Asia-Pacific, responded to questions related to the management dispute of Hanjin Group at a press conference marking the launch of Delta's new direct route from Incheon to Salt Lake City held at the Courtyard by Marriott Seoul Namdaemun on the 12th.
Delta Air Lines is a major shareholder with a 14.9% equity in Hanjin KAL. Throughout the management disputes of Hanjin Group, Delta Air Lines has supported Chairman Cho as a white knight. Last May, Korean Air and Delta Air Lines jointly acquired equity in Canada's second-largest airline, WestJet.
Delta Air Lines and Korean Air have maintained a strong relationship since the launch of their joint venture (JV) in 2018. Airline JVs represent the highest level of cooperation. The two companies jointly conduct sales activities such as fares and schedules as if they were one company, sharing revenue and expenses.
Jeff noted, "The partnership with Korean Air began in 2018 and is already entering its eighth year. The partnership has gradually strengthened, and now it is the top Pacific route joint venture."
Delta Air Lines will operate the Incheon-Salt Lake City direct route starting today. The aircraft is the Airbus A350-900, operating daily during the summer and transitioning to three times a week in winter. Passengers can also book and board this route through Korean Air.
The new direct route created by Delta Air Lines to Korea is the first in six years since 2019. Jeff said, "The accessibility to the inland areas of the western United States has improved with the launch to Salt Lake City," adding, "This route is the only direct one connecting Asia to Salt Lake."