News
Korean Air posts US$273 million quarterly profit
May 4th 2023
Korean Air’s (KAL) net profit for the three months to March 31 declined 35%, to 355.4 billion won (US$273 million), from 543.9 billion won in the same quarter in 2022. Read More » Revenue improved by 14%, to 3.2 trillion won, KAL said in a regulatory filing. Rising fuel prices and increased operating costs, as a result of expanded aircraft operations, impacted the result, the flag carrier said. “Korean Air expects global passenger demand to rapidly recover in the second quarter of this year, especially after the relaxation of travel restrictions around the world. The airline will continue to normalize its passenger business by increasing capacity and responding flexibly to demand.”
