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Indiaexportnews.com

Korean Air third quarter operating profit up 30.5pc

  29.10.2012    

Korean Air, South Korea's flagship airline, has posted net income of KRW340 billion (US$309.7 million) for the third quarter ending September 30, 2012, according to the Shipping Gazette. 
Third quarter operating profit amounted to KRW313 billion, an increase of 30.5 per cent compared to the same period a year earlier.
International passenger and cargo businesses remained the major revenue contributors for the airline, accounting for 61.7 per cent and 22.6 per cent, respectively, of the total sales. Total sales for the two divisions amounted to KRW2.7 trillion.
The cargo division contributed KRW0.7 trillion to total sales, "but due to the global economic downturn cargo traffic has decreased by eight per cent compared to 2011", a statement from the carrier said.
International passenger traffic fared well in the third quarter with capacity, traffic, load factors, yield and revenue all up on the same period last year. Revenue increase on long-haul routes attributed to the deployment of new aircraft. The airline recorded its highest passenger load factor of 85 per cent in August 2012 as the RPK (revenue passenger kilometre) measured an all-time high in the third quarter.


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