News
Asiana Airlines swings to net loss in Q3
November 18th 2021
South Korea's Asiana Airlines reported a consolidated third quarter net loss of 386.19 billion won (US$327 million) compared with a net profit of 9.42 billion won in the same quarter last year. Read More » The company attributed the result to foreign exchange losses prompted by a rising U.S. dollar and one-off costs. "The won's weakness against the dollar pushed up the value of dollar-denominated debts when converted into the local currency. Corporate taxes also weighed on the quarterly results," the company said in a statement reported by the Yonhap News Agency. Yonhap said Asiana’s operating profit plunged 60%, to 6.31 billion won in the third quarter, from an operating income of 15.89 billion won a year ago. But sales rose 32%, to 1.06 trillion won, from 808.15 billion won in the same period from increased cargo deliveries.
