KAL, Asiana earn W1.8 tril. from sell­ing mileages

The Korea Times - - FINANCE - By Jhoo Dong-chan [email protected]­re­atimes.co.kr

Korean Air and Asiana Air­lines have earned nearly 2 tril­lion won ($1.67 bil­lion) by sell­ing air mileage to credit card com­pa­nies since Jan­uary 2016, gov­ern­ment data showed Sun­day.

Card firms have bought the mileage of card­hold­ers who wanted to con­vert their card points to air miles but not many card­hold­ers were found to have used their miles be­fore they ex­pired due to var­i­ous terms and con­di­tions.

Ac­cord­ing to Fi­nan­cial Su­per­vi­sory Ser­vice data re­leased by Rep. Koh Yong-jin of the rul­ing Demo­cratic Party, Korean Air and Asiana Air­lines jointly earned 1.8 tril­lion won by sell­ing the mileage to 19 do­mes­tic card firms be­tween Jan­uary 2016 and Au­gust 2019.

Korean Air sold 17 do­mes­tic card firms 78.91 bil­lion mileage points for 1.19 tril­lion won.

Asiana Air­lines also posted a 617.2 bil­lion won profit by sell­ing 56.21 bil­lion mileage points to 18 card firms.

“The two air­lin­ers have gained enor­mous profits by sell­ing their air mileages to card firms for years. How­ever, card­hold­ers are ex­pe­ri­enc­ing dif­fi­cul­ties in us­ing the mileage be­cause the air­lin­ers set up var­i­ous terms and con­di­tions,” said Koh.

get­ty­im­ages­bank

Newspapers in English

Newspapers from Korea, Republic

© PressReader. All rights reserved.