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Asiana Airline announces lower profit for June quarter
August 19th 2021
South Korea's Asiana Airlines has reported net profit fell 45.4%, to 63.4 billion won (US$54 million), in the three months to June 30, from 1.16 trillion won in the same months in 2020. Read More » Revenue rose 14%, to 9.34 trillion won, Asiana said. The Star Alliance member said revenue from its cargo business rose 11% year-on-year, to 708.2 billion won, after it added freight routes to the Americas, Japan and Southeast Asia. Passenger revenue doubled to 64.5 billion won, compared with the same quarter in 2020, as domestic travel increased. Asiana said operating profit declined 17.5%, to 94.9 billion won, as higher oil prices led to an 123% increase in fuel costs. The airline is merging with Korean Air (KAL). The transaction is subject to regulatory approval but expected to be completed by 2024.
