Korean Air shares hit record low after poor Q2 earnings
Stocks of Korean Air, hit another record low Friday after the company reported poor Q2 earnings amid a deteriorating business environment and hefty foreign exchange losses. According to Korean Air, the airline recorded KRW3.2t in sales from April to June, which had inched up by 0.2% year-on-year. The company said things had improved slightly, mainly due to increased demand through route diversification and a joint venture with Delta Air Lines. But it posted an operating loss of KRW98.6b in Q2, from an operating profit of KRW66.7b from the previous year. Its net loss recorded KRW380.8b in Q2. The company expected the second half of this year to be tougher in light of the chilly relations with Japan and ongoing trade tensions between the US and China. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-08-19/sky/korean-air-shares-hit-record-low-after-poor-q2-earnings
https://portal.staralliance.com/cms/logo.png
Korean Air shares hit record low after poor Q2 earnings
Stocks of Korean Air, hit another record low Friday after the company reported poor Q2 earnings amid a deteriorating business environment and hefty foreign exchange losses. According to Korean Air, the airline recorded KRW3.2t in sales from April to June, which had inched up by 0.2% year-on-year. The company said things had improved slightly, mainly due to increased demand through route diversification and a joint venture with Delta Air Lines. But it posted an operating loss of KRW98.6b in Q2, from an operating profit of KRW66.7b from the previous year. Its net loss recorded KRW380.8b in Q2. The company expected the second half of this year to be tougher in light of the chilly relations with Japan and ongoing trade tensions between the US and China. <br/>
