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Indiaexportnews.com

Korean Air ends 18-month losing streak with US$63 million profit

  17.08.2009    

Korean Air passenger and cargo demand, plus other factors, boosted business to create a second quarter net profit of KRW78.5 billion (US$63.56 million), ending an 18-month losing streak.
Reuters also reported that South Korea's flag carrier ended a string of six quarters, partly because it achieved lower fuel costs and gains in foreign exchange earnings.
Net losses in the second quarter in 2008 were KRW288.9 billion compared to January to March of this year of KRW526.3 billion.
While the company returned to profitability, the result did not meet the more optimistic forecasts of a KRW226.4 billion profit from IBES tracker.


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