Korean Air Q1 net falls 35% on higher operating costsPosted :
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 Q1 net falls 35% on higher operating costsPosted :
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/>
