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South Korean airlines take pounding as China traffic sinks

Asiana cuts executive pay and furloughs staff in emergency response

Travelers in masks walk through Incheon International Airport near Seoul.   © Reuters

SEOUL -- A South Korean aviation industry in dire straits amid excess supply, a soft won and boycotts of Japan is proving hard-pressed to cope with the impact of the coronavirus outbreak on already weakening demand.

All of the country's six publicly listed airlines, except Korean Air Lines, reported operating losses for fiscal 2019. Carriers forced to drastically cut back service to China, a top destination, in addition to these struggles are resorting to desperate measures to stay afloat.

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