Strong cargo performance helps Asiana narrow losses

Asiana Airlines narrowed its Q1 operating loss to W11.2b ($9.9m), compared with W2 trillion a year earlier. The carrier’s revenue for the three months ended 31 March was W7.8t, down 31% from a year earlier, says the carrier. Net losses also narrowed to W230b from W549b a year earlier. The carrier attributed the narrowing of losses to its efforts to reduce sales and costs. A bright spot in the carrier’s earnings was cargo, with cargo revenues nearly doubling to W611 billion, with demand coming from Southeast Asia, the Americas and Europe. Key cargos included electronic equipment, e-commerce goods, and personal protective equipment. The robust cargo performance was aided by a pair of Airbus A350-900s that were re-tasked for cargo services in February, providing 46t of freight carriage per flight. In addition, the airline worked to improve its operating deficit in passenger traffic through charters and sight-seeing flights, given that international services are all but impossible owing to the coronavirus pandemic.<br/>