News
Korean Air books US$300 million plus profit for latest quarter
November 4th 2022
Korean Air (KAL) has announced a net profit of 431.4 billion won (US$300.7 million) for the three months to September 30, a result that is more than triple the airline’s 134 billion won net profit in the same months in 2021. Read More » Revenue leapt 65%, to 3.7 trillion won, KAL reported. The SkyTeam alliance member said: “While a weaker fourth quarter cargo business outlook is expected due to the global economic slowdown and diminished demand, the airline is seeking to increase revenue by securing year-end seasonal demand. The fourth quarter passenger business outlook is bullish on strong demand so the airline will continue to operate flexibly including with charter services and extra flights. With a grim outlook on inflation, a weakened currency and high interest rates, Korean Air will address external challenges and minimise their impact.” Quarterly operating profit was up 91%, to 839.2 billion won, KAL added.
