Korean Air returns to profit in Q3
Korean Air achieved a net profit of KRW428b (US$378m) for Q3, reversing a loss of KRW510b in the year-ago period. Preliminary figures show an operating profit of KRW447.6b, which would surpass Q3 of 2010 as Korean’s best-ever quarterly result. The Q3 2016 operating profit was 35% higher year-on-year, and the airline’s revenue increased 4.7% to over KRW3t. While full details are scheduled to be released in November, Korean confirms that passenger traffic was up 14% in the quarter, with an increase of 27% on China routes. The carrier revealed it has lost KRW825b related to its support of sister company Hanjin Shipping over the first 3 quarters of this year. However, the airline said it will not provide further financial support to Hanjin as the shipping company is under court receivership. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-10-26/sky/korean-air-returns-to-profit-in-q3
https://portal.staralliance.com/cms/logo.png
Korean Air returns to profit in Q3
Korean Air achieved a net profit of KRW428b (US$378m) for Q3, reversing a loss of KRW510b in the year-ago period. Preliminary figures show an operating profit of KRW447.6b, which would surpass Q3 of 2010 as Korean’s best-ever quarterly result. The Q3 2016 operating profit was 35% higher year-on-year, and the airline’s revenue increased 4.7% to over KRW3t. While full details are scheduled to be released in November, Korean confirms that passenger traffic was up 14% in the quarter, with an increase of 27% on China routes. The carrier revealed it has lost KRW825b related to its support of sister company Hanjin Shipping over the first 3 quarters of this year. However, the airline said it will not provide further financial support to Hanjin as the shipping company is under court receivership. <br/>
