Asiana Airlines reins in Q1 loss

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South Korean carrier Asiana Airlines reported a W2.1 billion ($2.05 million) operating loss for its first quarter ended 31 March 2014, a major improvement on the W21.1 billion figure reported in the year prior.

Revenue over the three month period declined marginally to W1.41 trillion. The carrier's net loss reduced slightly to W46.6 billion, compared to W48.2 billion.

Passenger capacity, as measured in ASKs increased by 2.4%, while RPKs were up by 3.4%. That allowed for a 0.8 percentage point improvement in load factor to 78.3%, although passenger yield was down marginally at 9.1 US cents per ASK.

Asiana’s cargo capacity increased by 1.8% over the same period, with RTKs up by 1.4%. That resulted in a marginal fall in freight load factor to 73.6%

At the end of the quarter, the airline operated a fleet of 71 aircraft, including 11 freighters.