A passenger jet from Korean Air takes off from Incheon International Airport in this file photo taken in June 2021. Yonhap

Donald Trump's victory in the U.S. presidential elections come as a boon to Korean Air, as the flag carrier will be able to absorb more demand from American and Chinese passengers amid possibly heightened political friction between the world's top two economies, analysts said Thursday.

The analysts cite a sharp decline in direct flights between the United States and China. Airlines from both countries were allowed to operate more than 150 flights each week before the outbreak of the COVID-19 pandemic. The figure has decreased to a mere 50 for now, as the two countries show no signs of thawing their icy bilateral relations.

Korean Air will benefit the most among local airlines here, as more passengers for routes between the two countries are expected to take a transfer flight using the Korean flag carrier, market analysts said.

"Korean Air will benefit from the prolonged supply limit for routes between the U.S. and China," Lee Jae-hyuk, an analyst at LS Securities, said.

As Trump outwardly expresses distrust of China, there is a significant likelihood that his return to the White House will aggravate the status quo, according to the analyst.

Trump's victory also sends multiple positive signals to most airlines here, as he threatens to reduce major eco-friendly policy drives pushed by the incumbent Joe Biden administration.

Biden has advocated for a gradual increase in airlines' use of sustainable aviation fuel (SAF). While eco-friendly, SAF is significantly more expensive than traditional jet fuel, placing an added financial burden on many carriers.

But Trump is forecast to delay the timeline of mandatory SAF usage during his presidency, the analyst said.

"Trump's win will slow down the global transition to the adoption of eco-friendly energy," Lee said.

Other analysts also voiced optimism for Korean Air under the upcoming Trump presidency, even if he moves to increase tariffs on imported products.

"Sales for Korean Air's cargo business bound for the U.S. are estimated to account for less than 10 percent out of its total sales, so the presidential victory of Donald Trump will have little effect on the airline," Hana Securities analyst Ahn Do-hyun said.

On Wednesday, the airline reported an earnings surprise with a 19-percent growth in operating profit for the third quarter compared to the previous year. According to its regulatory filing, it reported an operating profit of 618.6 billion won ($442.8 million) and generated sales of 4.24 billion won, marking a 10-percent increase compared to the same period last year.

Of particular note was the double-digit sales growth of its cargo business. According to the earnings report, the company achieved 1.11 trillion won in its cargo business sales between July and September, up 22 percent from the previous year, due to the gradual growth of Chinese e-commerce here.

Analysts are on track to increase the target stock price of Korean Air in line with such positive market circumstances.

Daishin Securities increased the firm's target stock price to 33,000 won per share from 30,000 won on the better-than-expected earnings result and multiple other factors, such as its synergy after completing its takeover of Asiana Airlines.