Amid the prolonged coronavirus pandemic, which has taken its toll on the global airline industry, South Korea's largest flagship Korean Air will place more than 70 percent of its workforce on leave for six months. 

Korean Air announced on Tuesday that the temporary cutback, affecting most of its domestic flight crew and ground office employees, will run from April 16 to October 15.

The company's labor union said it has agreed to the layoff as part of "pain-sharing" for the airline's prompt stabilization.

While the airline plans to pay those on leave with increased state support, executives' salaries will be reduced by up to 50 percent starting this month until business is normalized.

Korean Air will also raise funds by selling more non-core assets.

The national carrier has suspended more than 90 percent of its flights on international routes amid entry bans and restrictions imposed by countries as a preventive measure against the virus.