Korean Air Co. said Monday its flight KE631 with 173 people on board overran the runway while landing at Cebu International Airport in the Philippines a day earlier but no injuries were reported.

The flag carrier expressed its "genuine" regret as it always prioritizes safety in all of its operations, reports Yonhap News Agency.

"A thorough investigation will be performed together with the local aviation authorities and Korean authorities to determine the cause of this event," Korean Air President Woo Kee-hong said in a statement.

The company remains committed to standing behind its promise of safe operations and will do its very best to institute measures to prevent any recurrence, he said.

Passengers have been escorted to three local hotels and an alternative flight is being arranged, the statement said.

The A330-300 plane, carrying 162 passengers and 11 crew members, attempted to land twice in bad weather and on the third attempt overran the runway at 11.07 p.m. on Sunday, the statement said.

Currently, the Cebu airport is temporarily closed due to the stalled aircraft and other flights to Cebu are being diverted to nearby airports or returning to their points of origin.

Airport authorities said in a statement the incident necessitated the temporary closure of the runway to allow for the safe removal of the aircraft.

"For now, all international and domestic flights to and from MCIA are cancelled until further notice," the statement added.