2023 ATW Excellence in Leadership Recipient: Walter Cho

Since taking the helm as chairman and CEO at Korean Air in 2019, Walter Cho has rapidly gained a worldwide reputation for industry vision and dynamic management. His exceptional and compassionate leadership through the pandemic earned him strong loyalty across the company. His nimble and out-of-the-box thinking, particularly with regard to airline partnerships and especially the transpacific joint venture with Delta Air Lines, has made Korean stronger than ever. He has also been a quick believer in the importance of cargo operations and in leveraging technology and digitalization across the company.

Cho is leading the airline to even bigger things through the planned acquisition of Korean airline Asiana Airlines. As chair of the SkyTeam global alliance board and a member of the IATA board of governors, Cho has emerged as an excellent leader at Korean and across the industry.

It is his stated belief that the pandemic crisis has proven the importance of connectivity. And it has been his passion to maintain that connectivity and to believe in a strong and exciting future for Korean Air and the entire global air transport industry.

You took the helm at Korean Air in 2019, before the pandemic crisis struck. Do you feel that the fundamentals of the global air transport industry have changed? During the pandemic, many people grimly predicted that virtual conferences would replace business travel and that the future of the aviation market would transform according to this trend. Instead, what we’ve witnessed was an explosive increase in demand, both for leisure and business travel, as border restrictions were eased. We’ve seen how the essence of the aviation industry has and will remain the same: We connect people and transport goods. In the short run, airlines may be more careful and strategic in resuming and/or increasing capacity on chronically unprofitable routes, as they’ve been burdened by weakened financial structures on top of soaring interest rates and a sluggish global economy. Airlines diversify operations to increase productivity and enhance the customer experience, all while reducing costs. That said, digital innovation is, and will continue to be, an important element in our industry.

Talk more about leveraging technology as an airline. Advancements in digital innovation happen fast, and airlines can’t afford to miss a beat in effectively applying new technology. Technology allows airlines to positively transform the customer experience and enhance safety in many operational aspects. Our industry would not be able to serve our customers the way we do without the technology leverage. Korean Air is using cloud technology to understand and quickly adopt the needs and trends of younger generations, our future customers.

Do you think customer expectations for their air travel journeys have changed? Access to more personal space in premium classes has led to increased popularity and demand over the course of the pandemic, and we see this trend continuing. We expect this to continue to play a driving role in passenger business recovery. With recovery comes higher expectations, too. We stand ready to meet these expectations with revamped wine selections, Korean-style vegan meal options inspired by Korean temple food, and new products that will inspire travel.

You chair the SkyTeam global alliance board and are a strong advocate of partnerships and connectivity. Why do you see these as important? Our SkyTeam membership and joint venture with Delta Air Lines proved to be even more important during the pandemic. In facing the headwinds together, we emerged stronger than ever. The operational restrictions during COVID-19 were tough for us as they significantly limited our global reach. This is where our strategic collaboration with SkyTeam partners and our joint venture with Delta really shined; we were able to leverage regional gateways to effectively manage and maintain our global network. At a time when adding capacity is a difficult feat with high aircraft operating costs and heavy airport congestion, partnership is an excellent strategy. We recently welcomed Virgin Atlantic to our SkyTeam family and are excited at the prospect of a more dynamic alliance. This year also marks the fifth anniversary of the Korean-Delta joint venture. We are proud to offer our passengers the best services across the Pacific Ocean and beyond. Seoul Incheon is one of the world’s most prized airports, with an excellent geographic location, unmatched customer convenience with state-of-the art systems and some of the world’s fastest international connections. By leveraging the Seoul Incheon hub, we’d like to see Korean Air become one of the world’s most loved airlines, together with our partners.

How do you define a good crisis management leader? The pandemic, ironically, has given me a chance to reflect on what good leadership looks like amid a crisis. We successfully navigated the crisis through our swift pivot to cargo. I’m grateful that our team strategically utilized our grounded passenger planes as freighters, helping us achieve record high profits during the pandemic crisis. At some point in the future, we will need to deal with other unexpected challenges. Open and productive communication with our teams, combined with nimble and out-of-box strategies, will help us skillfully overcome these hurdles and become the airline loved by all.

The China market is reopening after a long lockdown. What does this signify for Korean and for the broader air transport market? China is the largest market in Asia and its opening is important not only for us, but for the global aviation industry. The Asia-Pacific region was slow to reopen to air travel and tourism. China’s opening will further drive the region’s passenger travel sector recovery. We’re actively normalizing our China network, and hope that the destinations and frequencies served between our two countries will recover to pre-COVID levels soon.

What has most surprised you since becoming Korean Air chairman & CEO and what do you most enjoy about your work? Do you have a role model or hero?  I’m certain many would find themselves on the same page with me: COVID has been the biggest surprise to date. To see almost all of our passenger planes grounded on the tarmac overnight was not only frightening, but surreal. In this most challenging time, I found solace and confidence in finding solutions together with our Korean Air family to overcome the crisis, and I’m grateful for all we achieved together. Before taking the helm at Korean Air, I learned so much from my grandfather and my father, who were both pioneers in domestic and global aviation. There’s so much I can and should gain. I’m committed to continue to listen and learn from our people and other industry leaders. Learning is a lifelong journey.

The 2023 ATW Excellence in Leadership Recipient is Walter Cho.