Asiana Airlines swings to Q4 net profit of W21.6bn

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Asiana Airlines swung to a net profit of W21.6 billion ($19.7 million) in the fourth quarter of 2012 from a net loss of W66.4 billion a year ago.

For the three months ended 31 December 2012, the South Korean carrier's revenue increased by 2.4% to W1.48 trillion from W1.44 trillion in the same period in 2011.

The airline recorded an operating loss of W15.6 billion, compared with an operating income of W50.1 billion a year earlier.

International passenger traffic for the fourth quarter, as measured in RPKs, grew by 9.9% and capacity as measured in ASKs grew by 8%. Its international passenger load factor increased by 1.3 percentage points year on year to 76%.

On the cargo front, cargo traffic for the reporting period rose by 9.1%. Freight capacity increased by 8.7% as a result of the increase in the number of freighter aircraft.

Cargo load factor increased by 0.4 percentage points year on year to 79%.