Korean Air sees steep drop in China traffic in Q2
After receiving its third Boeing 787-9 in July, Korean Air launched 3X-weekly service between Incheon-Madrid and 4X-weekly service between Incheon-Beijing in early August. With the Madrid route, Korean Air looks to build on the 18% year-over-year increase in European passenger revenue the airline saw in Q2. The Beijing route, however, flies in the face of declines in China passenger revenue (down 26% YOY) and China traffic (down 27% YOY). In Q2 2017, Korean Air reported a KRW200b net loss (US$174.9m), narrowed somewhat from a KRW251b net loss in the year-ago quarter. A deepening of net foreign currency related losses and interest expenses cut in to the company’s Q2 KRW173b operating profit by KRW419b during the quarter. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-08-18/sky/korean-air-sees-steep-drop-in-china-traffic-in-q2
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Korean Air sees steep drop in China traffic in Q2
After receiving its third Boeing 787-9 in July, Korean Air launched 3X-weekly service between Incheon-Madrid and 4X-weekly service between Incheon-Beijing in early August. With the Madrid route, Korean Air looks to build on the 18% year-over-year increase in European passenger revenue the airline saw in Q2. The Beijing route, however, flies in the face of declines in China passenger revenue (down 26% YOY) and China traffic (down 27% YOY). In Q2 2017, Korean Air reported a KRW200b net loss (US$174.9m), narrowed somewhat from a KRW251b net loss in the year-ago quarter. A deepening of net foreign currency related losses and interest expenses cut in to the company’s Q2 KRW173b operating profit by KRW419b during the quarter. <br/>
