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2009 Business Plan 0
Investor Relations
2009 Business PlanInvestor Relations
[Appendix] ‘08 Performance
2009 Business Plan 1
Investor Relations
「ATW’s 2009 Airline of the Year」
5 Star Airlines
KCSI (Korean Industry Customer Satisfaction Index)NCSI (National Customer Satisfaction Idex) KS-SQI (Korean Standard Service Quality Index)
Continental Airlines
Japan Airlines
Southwest Airlines
Qantas Airways
Air France/KLM
Cathay Pacific
All Nippon Airways
Singapore Airlines
Asiana Airlines
Airline
1992
1993
1994
1995
1996
1997
1998
1999
2000
Year
British Airways2001
-2002
Lufthansa2003
Qantas Airways2004
Continental Airlines2005
KLM/Northwest Airlines2006
Delta Airlines2007
-2008
Lufthansa2009
AirlineYearAirline of the Year
The Nobel Prize in Aviation
Evaluation Factors
- Exemplary service
- Compiling safety record
- Development of new market
& innovative service
- Leading application of new
technology in aviation industry
- Financial stability & consistent profitability
Honored Airlines
Airline of the Year
Top Customer Satisfaction CompanyAirline of the Year
2009 Business Plan 2
Investor Relations
Leading Global Airline Pursuing Customer Satisfaction
Safety Service
Profit-oriented Management Entry to World’s Top 10 Profitable AirlinesEntry to World’s Top 10 Profitable Airlines
Management Vision
“A Beautiful Company”
Core Competence
Infrastructure
Customer Satisfaction
Greening Management
2009 Business Plan 3
Investor Relations
41
5666
72
60
18 22 2114 19
30 26 2631
99.6
'95 '97 '99 '01 '03 '05 '07 09(E)
WTI
771 805
951
1,399
1,1311,192
1,145
1,024956 929
1,1031,2001,189
1,2911,255
'95 '97 '99 '01 '03 '05 '07 09
(E)
F/X Rate
Major External Indices
-30.9%85.2123.3Jet Fuel
($/BBL)
-39.8%6099.6WTI
($/BBL)
2009(E) Changes2008
Oil Price
2009 Business Plan
(Unit : $/BBL)
8.8%1,2001,103Market Rate
(₩/$)
13.7%1,2001,055Accounting Rate (₩/$)
2009(E) Changes2008
F/X rate
(Unit : ₩/$)
2009 Business Plan 4
Investor Relations
Fleet Operation Plan
67
8
30
5
10
8
7
29
24
5
2009(E)
-1
-1
+2
-
-
+2
-
-2
-
-2
Changes
10B777
6A330
7B767
31Narrow Body
24A320/321
9Freighter
28Wide Body
5B747
7B737
68
2008
Total
A/C Type
(as of Dec. 31, 2008)Fleet Plan
A/C Type & Delivery
- 30 A350 XWB(800/900/1000)
- Delivery from 2016 to 2022
A350 Specialties
- Mid/long haul A/C with 270~350 seats
- Cost saving due to lightweight airframe built
from new composite materials
- Eco-efficient aircraft with reduced emission &
lower noise
Introduction of New Generation Aircraft
U.S.A.U.S.A.EuropeEuropeAsia
2009 Business Plan
※ - B737 Lease to Air Busan
3 in 2008 (Oct., Nov.), 2 in 2009 (Apr., May.)
- 2 A330 Delivery (Apr., Dec.)
- 1 B747-FRT Return (Apr.)
2009 Business Plan 5
Investor Relations
996
927
986 979
825
2005 2006 2007 2008 2009(E)
Air Freight
Trends of Air Traffic Demand
Cargo
[Unit : thousand person] [Unit : thousand Ton]
16,10317,765
19,77318,887 18,278
10,08011,610
13,32511,996
11,180
6,023 6,155 6,448 6,891 7,098
2005 2006 2007 2008 2009(E)
TTL Outbound Inbound
-3.2%
-15.7%
-6.8%
+3.0%
[Source : Korea Tourism Organization, Korea International Trade Association, Asiana Airlines, Inc.]
-4.5%
-10.0%
+6.9%
-0.7%
2009 Business Plan
International Passenger
2009 Business Plan 6
Investor Relations
Flexible adjustment of routes and schedules
(by quarter, not semi-annually)
- Suspension and decrease of flights in
unprofitable and weak demand routes to
CHN & SE Asia (total 405 flights)
- Addition of flights in high profitable routes
(ex. Haneda)
Fleet reduction
- Lease-out of 2 B737 to Air Busan
※ 68 A/C in 2008 → 67 A/C in 2009 (at the year-end)
Completion of cabin upgrade in 2008
- Upgrade of seats and in-flight facilities with all fleet
Passenger
Countermoves to Slow Market Demands (I)
U.S Visa exemption program
- +3/W to LAX, +1/W to SEA, +1/W to SFO (’08. 11.)- Considering daily flight operation to NYC (currently 4/W)
Increasing revenue from US (15.7% in ’08→23.1% in ’13)
Improvement of profitability in short/mid haul routes- Focus on golden triangle routes connecting KOR, JPN & CHN
- Development of new profitable routes in JPN & CHN (ex. Shizuoka, Ibaraki, Mudanjiang)
Boost of inbound demand (by weak Korean Won)- Specialized marketing
(ex. shopping tour packages, health tour packages)- Attraction of inbound demands from JPN & CHN
by operation of new layover flights
◆Increasing inbound passengers (46% in ’08→50% in ’09)
Restructuring
2009 Business Plan
Outbound : Recovery of traffic demands thanks to exemption of fuel surcharges,
stabilized exchange rate & economic turnaround later this year
Inbound : Attraction of tourists from the countries with strong-currency
Improvement of Profitability
2009 Business Plan 7
Investor Relations
One B747 Freighter Return (total freighters 9 8)- Service out from Feb. 17 (return in April)- Decrease of 3 flights to US & 1 to EUR
weekly 55 flights 51 flightsCost Reduction- Reduction of handling charges- Common use of Cargo Terminal with
alliance carriers (ex. Osaka terminal..etc.)
International Cargo- Attract international regular material serviced by
Korea Express Express Delivery - Door to Door Service - Specialized Service by regions (KOR, CHN, JPN)International Logistics- Building additional RFS (the best Road
Feeder Service) Network in western US & EUR- Cooperation with related business (storage, customs)
Cargo
Countermoves to Slow Market Demands (II)
Increase of capacity in high profitable routes & development of new routes - Strategic & positive marketing in North America with open sky contract - Development of beyond routes, CHN via EURDevelopment of higher value-added commodities- Promotion of Mail, Cyber Express, YIM & Special Care Cargos
Improvement of Profitability
Synergy with Korea ExpressRestructuring
2009 Business Plan
Reduction of capacity by return of a freighter
Development of new routes and maximization of synergy with Korea Express
2009 Business Plan 8
Investor Relations
Projected Business Performance
Cargo
2009(E)20082007
RTK(mil.km) Yield(Won)
3,577
3,340 3,165
-5.2%
250.4
325.8352.3
1,732 1,7991,520
154.4 168.5177.6
2009(E)20082007
Domestic Passenger
RPK(mil.km) Yield(Won)
-15.5%
International Passenger
2009(E)20082007
RPK(mil.km) Yield(Won)
+6.8%
21,74922,722
24,257
86.197.9
98.7
2009 Business Plan
2009 Business Plan 9
Investor Relations
Revenue
(Unit : KRW billion)
Income Statement
RevenueOperating ProfitOperating Profit Ratio
(Unit : KRW billion)
4,262
-52.7
4,500
280
2008 2009(E)
Turn to black
280-52.7Operating
Profit
5.6%4,5004,262Revenue
2009(E) Changes2008
20.6%327271A/C Rent
-1.6%260264Depreciation
1.0%486482Payroll
-20.0%1,2591,574Fuel
2009(E) Changes2008
Turnaround to Black
-1.2%
6.2%
2.5%1,1691,140- Cargo
13.7%460405- Others
5.7%2,8712,717- Pax
5.6%4,5004,262Revenue
2009(E) Changes2008
Major Cost
2009 Business Plan
(Unit : KRW billion)
2009 Business Plan 10
Investor Relations
477 484 516429
606 694 748 752 805932 996 927 986 825979
'95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09(E)
7,572 8,333 8,450 7,3179,001
10,830 11,232 12,471 11,83914,644
16,10317,765 19,773 18,27818,887
'95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09(E)
1,168
526
2,673
1,701
859
2,148
521
1,579
576
1,2701,716
-47 -527
2,800
822
'95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09(E)
Demand & Operating Profit
Operating Profit
International Travelers
[Unit : hundred million Won]
[Unit : thousand person]
Air Cargo [Unit : thousand Ton]
IMF 911 SARS Financial Crunch
[Source : Korea Tourism Organization, Korea International Trade Association, Asiana Airlines, Inc.]
-15.7%
-3.2%
-16.8%
-13.4%
5.3%
6.2%
Rate of operating profit
2009 Business Plan
2009 Business Plan 11
Investor Relations
Liquidity Boost
Debt Repayment
Stake Sale Capital Reduction of Korea Express
- Asiana hold 9,624 thou. shares- Reduction ratio : 43.22% - KRW 711.3 billion Cash-in - Due on May 14, 2009
- Kumho Life Insurance (13.7 mil. shares/23.14%)
- Daewoo E & C (9.1 mil. shares/2.81%)
[ 2008 ]- KRW 4 trillion- 662.2% of debt ratio
[ 2009 ]- Less than KRW 3 trillion- About 400% of debt ratio
Financial Restructuring 2009 Business Plan
2009 Business Plan 12
Investor Relations
2008 Financial Results
Balance Sheet
Income Statement
--333 -227 106 131 Net Income
1910.3%172 181 9 -27 Hedge
--238 -247 -10 94 F/X
80.1%101 225 125 129 Interest Exp.
--155 -212 -57 14Non-op. Profit
--224 -53 172127 Op. Profit
16.7%611 4,262 3,651 3,452Revenues
%Changes200820072006
-388.4%p662.2%273.8%277.6%Debt Ratio
-28.8%-318786 1,104 1,016 Shareholder’s Equity
83.6%1,8314,0202,1892,068Debt
72.1%2,1815,2043,0232,821Liabilities
45.1%1,8635,9904,1273,837Assets
%Changes200820072006
(Unit : KRW billion)
[Appendix] 2008 Performance
(Unit : KRW billion)