Korean Air narrows net loss in Q1
Korean Air recorded a consolidated net loss of KRW175b (US$149m) for Q1, up from a KRW133 loss in the same period a year earlier. The net loss was due mainly to impairment costs related to its financial exposure to struggling sister company Hanjin Shipping. Korean Air achieved an operating profit of KRW323b for the period, which was a record for the carrier and an increase of KRW133b from the previous year. Consolidated revenue was essentially flat at KRW2.9b. Korean’s international passenger yield in the quarter declined 9.6% when calculated in US dollars, and was down 1.1% in terms of Korean won. Domestic passenger yield dropped 10.8% in dollars and 2.5% in won. Fuel costs fell by more than 40% in the quarter, although rises in other costs meant total expenses were down by just 4.8%. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-05-18/sky/korean-air-narrows-net-loss-in-q1
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Korean Air narrows net loss in Q1
Korean Air recorded a consolidated net loss of KRW175b (US$149m) for Q1, up from a KRW133 loss in the same period a year earlier. The net loss was due mainly to impairment costs related to its financial exposure to struggling sister company Hanjin Shipping. Korean Air achieved an operating profit of KRW323b for the period, which was a record for the carrier and an increase of KRW133b from the previous year. Consolidated revenue was essentially flat at KRW2.9b. Korean’s international passenger yield in the quarter declined 9.6% when calculated in US dollars, and was down 1.1% in terms of Korean won. Domestic passenger yield dropped 10.8% in dollars and 2.5% in won. Fuel costs fell by more than 40% in the quarter, although rises in other costs meant total expenses were down by just 4.8%. <br/>
