Association recognizes the 'outstanding contribution' of Yang Ho Cho and Edwin 'Ned' Wallace

Y H Cho

Two of the most influential executives in the global airline cargo industry are being honored with membership of TIACA's Hall of Fame, which recognizes air cargo professionals who have played a leading role in the progress of aviation and who through their foresight, performance and dedication have created and grown the industry, which contributes substantially to the global economy.

Yang Ho Cho, Chairman and Chief Executive Officer of Korean Air, and Edwin 'Ned' Wallace, founder of Wallace Air Cargo Group, and, will be officially inducted into the Hall of Fame at a special celebration dinner on April 27th during TIACA's Executive Summit & AGM in Vancouver, Canada.

Created in 1997, the Hall of Fame currently recognizes the contribution of 40 of air cargo's most influential business leaders. TIACA members, industry organizations and the industry press are invited to nominate individuals to be considered for the award'and the honorees are selected by TIACA's Chairman's Council, which includes all past chairmen and the current chairman of the Association.

Gary Bartek, Chairman of TIACA's Chairman's Council, said: 'In 2009, we are honoring two executives for their significant contribution to the development of the freighter industry. During a 35-year career with Korean Air, Yang Ho Cho has overseen the creation of the world's largest commercial air cargo carrier, transporting 1.75 million tons a year, while Ned Wallace's roots go back to the pioneering airfreight airline Flying Tigers in the mid 1960s. Their achievements more than deserve this important recognition in the history of the air cargo industry.'

Ned Wallace

Mr. Cho was named Chairman and CEO of Korean Air in April 1999, having served as President and CEO since 1992. Prior to that, he was executive vice president and chief operating officer of Korean Air.

He joined the airline as a manager in the Americas Regional Headquarters in 1974. He worked his way up through the company ranks by continually adding various departments to his overall responsibilities - including maintenance, marketing, purchasing, information systems and corporate planning.

Mr. Cho. is also chairman of the Hanjin Group ' one of the world's largest transportation conglomerates. He was named to this post in February 2003 after having served as the Group's vice chairman since 1996. He is also the director of various subsidiary companies including Korea Airport Service (KAS), and HIST.

Today, Korean Air, with a fleet of 130 aircraft including 30 freighters, is one of the world's top 20 airlines, and operates to 116 cities in 39 countries.

Ned Wallace joined The Flying Tiger Line from college in 1966 at the start of a career that has placed him in the forefront of developments in the international airfreight industry. He was instrumental in establishing and expanding Flying Tiger's critical transpacific freighter operation, making extensive use of operational hubs in Tokyo and Anchorage. He helped plan and manage the carrier's transition first from turbo-prop CL-44's to a B707 and DC-8 jet fleet and finally to Boeing 747 freighters. When Flying Tigers acquired Seaboard World Airlines and that carrier's broad transatlantic traffic rights, he played a significant role in the successful integration of the two companies.' By 1989, Ned Wallace had risen to the position of Senior Vice President International Sales and Services of The Flying Tiger Line.

The success of Flying Tigers led to the company being acquired by the rapidly expanding Federal Express in 1989. Ned subsequently formed his own business, Nedmark, a California based airfreight c