Korean Air swings to profit in Q4 2015
Korean Air reported a Q4 2015 net profit of KRW92b (US$76m), reversed from a net loss of KRW272b in the year-ago period, although the improved result was heavily skewed by gains related to exchange rate movements. Operating profit declined 2% year-on-year to KRW150b. Operating costs for the quarter were down 1.5%, despite a 28.2% drop in fuel spending. The largest cost increase was in the maintenance category, due to engine work for Boeing 777-300ER being concentrated in Q4. Domestic passenger load factor rose 8.5 points to 75.2%, and international load factor increased 2.5 points to 76.3%. A 10% rise in international passengers was attributed to a 24% increase in Korean outbound travel, offsetting a 3% drop in passengers from overseas. Korean Air plans to take delivery of 16 Boeing aircraft this year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-02-04/sky/korean-air-swings-to-profit-in-q4-2015
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Korean Air swings to profit in Q4 2015
Korean Air reported a Q4 2015 net profit of KRW92b (US$76m), reversed from a net loss of KRW272b in the year-ago period, although the improved result was heavily skewed by gains related to exchange rate movements. Operating profit declined 2% year-on-year to KRW150b. Operating costs for the quarter were down 1.5%, despite a 28.2% drop in fuel spending. The largest cost increase was in the maintenance category, due to engine work for Boeing 777-300ER being concentrated in Q4. Domestic passenger load factor rose 8.5 points to 75.2%, and international load factor increased 2.5 points to 76.3%. A 10% rise in international passengers was attributed to a 24% increase in Korean outbound travel, offsetting a 3% drop in passengers from overseas. Korean Air plans to take delivery of 16 Boeing aircraft this year. <br/>
