ABC Money
Home

Korean Air proposes East Asia bloc to counter EU inroads


Published :
Wed, 17 Jan 2007 11:37
By : Agencies
Print this Story


AddThis Social Bookmark Button

SEOUL (XFN-ASIA) - Korea Air proposed an East Asian airline bloc involving South Korea, Japan and China to counter an agreement forged by European Union member countries to protect their airlines.

Korean Air president Lee Jong-Hee urged the government to reject any demand that it recognise an EU Community clause at aviation talks with France here next week.

Under the clause, an EU member country can designate an airline of any other EU member as its national flag carrier. France wants South Korea to accept the clause.

'The clause must not be accepted as it will force the complete opening of our airline market to all EU member countries,' Lee told reporters.

'I suggest South Korea should push ahead with an airline bloc with China and Japan to counter the European bloc,' he said.

Korea Air's rival Asiana supports the EU clause, saying it will boost the competitiveness of local carriers.

If South Korea accepts the clause, Asiana would also be able to fly the Seoul-Paris route.

Asiana says the boarding rate of planes between South Korea and France is more than 80 pct and travelers suffer from a shortage of seats during high seasons.

South Korea and France signed an aviation pact in 1973, allowing only Korean Air and Air France to fly between Seoul and Paris.

Now South Korea wants France to permit multiple airlines on the route but France is reluctant to accept the demand, insisting it has only one national flag carrier, Air France, according to the Yonhap news agency.

afp




Share on


 You Might Like
Asian leaders make energy pledge
London's AIM and Shanghai, Korea bourses eyeing stakes in India's OTCEI - report
+
Tesco to invest more than 2 bln stg in SKorean unit over next 5 yrs - report
ASEAN agrees on anti-terror pact, to speed up trade integration on eve of summit

Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
10340.69
-107.24 ( -1.03 %)
NASDAQ
2792.28
22.57 ( 0.81 %)
FTSE 100
5741.15
38.78 ( 0.68 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
STANDARD CHARTERED ( 11:35am )
1559.00
70.00 ( 4.76 %)
WOLSELEY PLC ( 11:35am )
2250.00
70.00 ( 3.20 %)
CARNIVAL ( 11:35am )
2017.00
46.00 ( 2.42 %)
LAND SECURITIES GROUP ( 11:35am )
679.50
36.50 ( 5.63 %)
WHITBREAD ( 11:35am )
1662.99
33.99 ( 2.09 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
3M COMPANY ( 12:34pm )
85.78
0.71 ( 0.83 %)
BOEING CO ( 12:34pm )
75.70
0.64 ( 0.85 %)
JP MORGAN CHASE CO ( 12:34pm )
37.03
0.49 ( 1.33 %)
WAL MART STORES ( 12:34pm )
60.44
0.43 ( 0.72 %)
IBM ( 12:34pm )
181.50
0.43 ( 0.24 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
F5 NETWORKS INC ( 12:11pm )
122.38
13.92 ( 11.80 %)
ICO GLOBAL COMM CL A ( 8:01pm )
99999999.99
9.37 ( 366.02 %)
PRICELINECOM INC ( 12:23pm )
525.40
6.57 ( 1.26 %)
AMAZONCOM INC ( 12:04pm )
195.65
6.21 ( 3.25 %)
MILLICOM INTERNATIONAL CELLULAR SA ( 4:00pm )
110.18
4.82 ( 4.43 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 ABCmoney.co.uk, All Rights Reserved
*ABCMoney.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.