Asiana Airlines said Monday its net profit turned to the black in the third quarter on increased sales. Net profit came to 152.6b won (US$133.7m) in the July-September period, compared with a net loss of 62.16b won in the same period last year, the company said in a regulatory filing. The Q3 net also marked a turnaround from a net loss of 26.65b won in the previous quarter. In the three months ended Sept. 30, sales jumped 9.4% on-year to 1.56t won. "Demands greatly increased on most routes, especially on short-haul routes to and from China and Japan, which had suffered large cuts last year due to the outbreak of the Middle East Respiratory Syndrome (MERS), while the removal of fuel surcharges due to low global oil prices helped push up local demand for outbound flights," the company said. Operating profit more than tripled, jumping 233% on-year to 151.6b won in Q3. The company said its financial soundness has also improved significantly, with its debt ratio coming to 572.2% as of end-September, down 491.1 percentage points from end-2015. "Asiana Airlines greatly improved its financial soundness by reducing its debt following the successful sales of its 100% stake in Kumho Terminal and 50% stake in Kumho Asiana Plaza Saigon," it said. In the first nine months of the year, the company's sales came to 4.3t won, up 3.9% from the same period last year.<br/>
star
A row has erupted in Northern Ireland over the cancellation of the province’s only regular flight to the US amid accusations that “unelected bureaucrats in Brussels” refused to approve a £GBP9m subsidy, two-thirds of it from taxpayers, to keep the route flying. United said Friday it would end its daily flight from Belfast to Newark airport in January “because of the route’s poor financial performance”. Its announcement led to a torrent of criticism of the European Commission from some of Northern Ireland’s Brexit-supporting Democratic Unionist politicians. They said the cancellation of the United service would damage the local economy and the province’s attempts to attract more US foreign direct investment. “This is a clear example of the EU dictating what we can and cannot do,” said Paul Girvan, a DUP member of the Northern Ireland assembly. Simon Hamilton, a senior DUP figure who is the province’s economy minister, said it was “deeply regrettable that unelected bureaucrats in Brussels have in effect scuppered this important flight for Northern Ireland”. Graham Keddie, managing director of Belfast International Airport, also attacked the commission and praised local politicians for supporting the deal with United. “Their efforts went above and beyond, but in the end the faceless Eurocrats, and others ill-disposed to Northern Ireland, won the day,” said Keddie.<br/>