I would like to express my sincerest gratitude to all the shareholders of Hanjin KAL for helping us successfully complete the seventh annual general meeting of shareholders.
In particular, I would like to extend my deep gratitude to all of our shareholders and related organizations for their generous trust in the current management. Also, I sincerely thank all the executives and employees of Hanjin Group for their wholehearted support and the union representatives for being supportive during these difficult times.
This year’s shareholders meeting has attracted greater public attention than ever. The meeting served as an opportunity to hear the voices of various shareholders and employees, and will act as a stepping stone in the future development and growth of Hanjin Group.
Hanjin Group will now start afresh, respecting the wishes of the people.
We currently face grave challenges due to the COVID-19 pandemic. Each and every one of us at Hanjin Group will step up and do our best to pull through.
The whole world is suffering greatly due to the COVID-19 crisis. The airline industry, in particular, is facing an unprecedented crisis. More than 90 percent of Korean Air’s aircraft are grounded.
All of us at Hanjin Group are devoting our efforts to overcome the crisis. We will take necessary self-help measures to improve our financial structure. In addition to the previously announced sale of idle assets, we will actively seek to raise funds by consulting the board of directors.
Moreover, as the crisis we are facing due to COVID-19 cannot be overcome by the efforts of a single company or industry, we earnestly ask for the strong support of the government.
As a national flag carrier representing Korea, Korean Air will take the initiative to overcome the current crisis. I will take the lead and do everything I can.
We will continue to serve the nation and the people as a national backbone industry. We will always remember your unwavering support and continue to strive to be a company that always gives back to society.
The COVID-19 crisis will soon pass, and we will emerge even stronger.
I will never forget the support and trust that the citizens and shareholders have shown us through this shareholders meeting and will exert all efforts to overcome this crisis.
Message sent by Korean Air
March 29, 2020