Korean Air, Korea's biggest carrier by sales, said Wednesday its Q1 net profit fell 35% from a year earlier on higher operating costs. Net profit for the three months ended in March fell to 355.42b won from 543.85b won (US$406m) during the same period of last year, the company said. "Travel demand is recovering amid eased COVID-19 virus curbs. But an increase in operating costs, including higher jet fuel prices, weighed on the quarterly bottom line," the statement said. Operating profit plunged 47% to 414.99b won in the March quarter from 788.45b won a year ago. Sales were up 14% to 3.19t won from 2.8t won. The financial results are parent-based figures, not consolidated ones. Looking ahead, the national flag carrier said passenger travel demand could further improve in Q2 as most of the pandemic-related restrictions are expected to be lifted.<br/>
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Korean Air unveiled a special design for its Boeing 777-300ER aircraft to support Busan's bid to host the World Expo 2030 at the airline's hangar at Incheon International Airport, Wednesday. The ceremony was attended by Prime Minister Han Duck-soo, Korean Air Chairman and CEO Cho Won-tae, Bidding Committee for World Expo 2030 Busan Co-Chairman Chey Tae-won, senior presidential secretary for future strategy Jang Sung-min and Korean Air President Woo Kee-hong. "Hosting the Expo in Busan will be a great opportunity to further advocate our nation's presence on the global stage, and Korean Air is proud to play its role in the bid for the World Expo 2030 Busan," the Korean Air CEO said in his welcoming address. "As a leader in global aviation, Korean Air will take advantage of its extensive network to support the bid." The Boeing 777-300ER livery features the world-renowned K-pop group BLACKPINK. Recognized globally, BLACKPINK is on a world tour to meet its 1.5m fans. In March, Korean Air signed a partnership agreement with YG Entertainment and became the official airline sponsor of BLACKPINK's world tour. "The Korean Air livery unveiled today is a testament to Korea's vibrant and influential cultural scene that has captivated the world," Prime Minister Han said in his speech. "The bid takes a concerted effort, and I want to thank Chairman Cho and the Korean Air team for taking this initiative in steering the bid effort. We look forward to seeing the Korean Air livery making stops around the world to exhibit the nation's resolve to host the World Expo in Busan."<br/>