Korean Air quarterly sales 5trillion199billion won, operating profit 34% decrease
Korean Air announced that 13on the 2quarterly standalone sales increased by 25.9% compared to the same period last year, reaching an all-time high for a quarter at 5trillion199won. During the same period, the operating profit decreased by 34% compared to last year.
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Korean Air noted that 13on the 2quarterly standalone sales saw an increase of 25.9% compared to the same period last year, reaching 5trillion199won, marking the highest ever for a quarter. The company attributed this performance to growth in both passenger and cargo businesses.
During the same period, the operating profit recorded a 34% decrease compared to last year. The company reported that rising oil prices and other cost pressures impacted profitability.
Sales during the same period last year were 3trillion9,859billion won. The company reported that its preliminary assessment indicated a significant increase in quarterly sales.
The cargo division showed strong performance, according to the company, while the passenger segment also showed signs of recovery.
This performance comes at a time just before the official merger with Asiana Airlines in 12month. The company mentioned the potential for expansion and synergy creation through the merger.
Last quarter, there were concerns about decreased passenger demand due to the U.S.-Iran tensions, oil price fluctuations, and currency exchange rates. Korean Air disclosed this preliminary performance to the Financial Supervisory Service and other electronic disclosures.