Tuesday, 16 October 2018

Korean Air boss indicted on embezzlement charges...

The woes at Korean Air Lines continue as its Chairman Cho Yang-ho was indicted on Monday 15th October on a number of charges that include embezzlement and breach of trust.

The South Korean prosecutor's office advised on Monday said Cho Yang-ho pocketed 19.6 billion won that's around $17 million in commission between 2003 and 2018 after setting up a trading company to broker specialist aircraft equipment and in-flight duty-free goods purchase deals for Korean Air, which cost the airline the same amount. 

The Cho family certainly seem to court controversy in recent times with tales of wild and reckless behaviour, Cho’s elder daughter, Heather Cho, forced a jet to return to the airport terminal in New York after a row over how nuts were served to her in 2014. Her younger sister Emily Cho, narrowly escaped a possible prison sentence this week after being cleared of throwing a drink of water over two people in a meeting.  The only reason she escaped the charges was that the advertising person who bore the brunt of the water onslaught was 'convinced' not to press charges.  

The Chairman himself caused a strom in 2016 when he moaned about pilots, writing that “What pilots have to do is just to decide to go or not go, but are you saying that is hard? Flying is done by autopilot, which is easier than driving a car.". 

What the charges against its chairman mean for the airline is unclear at this stage, the airline has not released a statement other than saying it will present facts at the hearing.  The Cho family spokesperson has remained tight-lipped when asked by local media for comment.