News
Korean Air announces US$112 million quarterly net profit
August 16th 2021
Flag carrier, Korean Air (KAL), has reported a net profit of 130 billion won (US$112 million) for the three months to June 30, down 20% from a net profit of 162.4 billion won in the same months in 2020. Read More » It was KAL's fifth consecutive quarterly profit achieved by boosting cargo operations and reducing costs. Revenue rose 16%, to 1.95 trillion won, KAL said. Passenger revenues remained subdued due to COVID-19, but KAL's cargo business earned quarterly revenue of 1.51 trillion won, the highest in the airline's history. The SkyTeam alliance member said passenger demand will be sluggish in the second half of 2021. "It also is difficult to predict when it will recover," KAL said. "Korean Air’s passenger business will operate its international routes flexibly while closely monitoring the market situation, including travel restrictions of major hub cities, vaccination rates, application of digital health passes and new travel bubbles."
