Air Transport

Korean Air (KAL) returned to the black in the third quarter, posting a net income of 264 billion Korean won ($228 million) for the three months ending 30 September.

The profits compare to a loss of 684 billion won for the corresponding period last year, and was mainly due to a 15% drop in operating expenses due to lower fuel prices and a stronger Korean won, says KAL.

It adds that its international passenger business contributed to profits with a 4% rise in ASKs and RPKs in the third quarter. September was particularly strong, with RPKs increasing 12% year-on-year, says the airline. This comes as "the world economy showed signs of recovery" and as concerns over the H1N1 virus eased, it adds.

"As oil prices continue to stabilise and the won strengthens further, the airline expects to deliver better performance in the coming year," says KAL.