Korean Air makes net profit in 2017 on passenger demand, FX gains
Korean Air Lines said Thursday it swung to a net profit in 2017, after posting a net loss a year earlier, on increased passenger demand and foreign-exchange gains. For the whole year, Korean Air shifted to a net profit of KRW801.9b (US$737m) from a net loss of KRW556.84b in 2016, the company said. The net result was attributable to the company's route diversification, meant to reduce the impact of declining number of travellers to and from China triggered by a diplomatic row, and rise in delivery of high-end semiconductors, the airline said. The South Korean won's strength against the US dollar also helped the bottom line. The dollar fell to 1,071.4 won at the end of December last year from 1,208.5 a year earlier, driving up foreign exchange gains, the company said. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-02-09/sky/korean-air-makes-net-profit-in-2017-on-passenger-demand-fx-gains
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Korean Air makes net profit in 2017 on passenger demand, FX gains
Korean Air Lines said Thursday it swung to a net profit in 2017, after posting a net loss a year earlier, on increased passenger demand and foreign-exchange gains. For the whole year, Korean Air shifted to a net profit of KRW801.9b (US$737m) from a net loss of KRW556.84b in 2016, the company said. The net result was attributable to the company's route diversification, meant to reduce the impact of declining number of travellers to and from China triggered by a diplomatic row, and rise in delivery of high-end semiconductors, the airline said. The South Korean won's strength against the US dollar also helped the bottom line. The dollar fell to 1,071.4 won at the end of December last year from 1,208.5 a year earlier, driving up foreign exchange gains, the company said. <br/>
