Home / Business / Among the companies that receive millions of PPP loans: Korean Air

Among the companies that receive millions of PPP loans: Korean Air



A Korean Air Airbus 380 is towed to a gate at Los Angeles International Airport.

Fabrizio Gandolfo | SOPA pictures | LightRocket via Getty Images

Korean Air’s U.S. operations received millions of federal small business loans to mitigate the Covid-19 blow, federal data shows.

According to a list of the largest recipients of credit under the Paycheck Protection Program released by the Trump administration on Monday, the airline received US $ 5 to $ 1

0 million in loans to help small businesses put their employees on theirs To keep payrolls.

The Seoul-based airline, South Korea’s largest, employs approximately 500 people in the United States. A spokeswoman said she applied for the loan because more than half of the airline’s flight operations were suspended due to the pandemic.

The funds will be used to pay wages and salaries for employees, including those in their primary freight business, as well as for office work such as marketing and human resources, the spokeswoman said.

International long-haul travel has dropped due to Covid-19 as demand has dried up and a number of travel restrictions have made traveling abroad difficult, if not impossible, for some potential customers.

Korean Air is also a large cargo airline with routes to or from America that account for approximately 40% of its cargo sales.


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