Asiana posts net loss of W47.4 billion for Q3 2011

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South Korea's Asiana Airlines posted a net loss of won (W) 47.4 billion ($42 million) in the third quarter of 2011, compared with a net profit of W162 billion in the third quarter of 2010.

For the three months ended 30 September, its revenues increased by 2.1% to W1.41 trillion and its total expenses grew by 11% to W1.25 trillion, said the airline.

Its operating income for the period amounted to W152 billion, a decline of 38.7% from the same period last year.

For the nine months ended 30 September, the airline posted a net income of W3.2 billion, down by 87.2% from the same period last year.

Its revenues increased by 5.1% to W3.98 trillion. Its total expenses jumped by 13.4% to W3.69 trillion, resulting in an operating income of W288 billion, down by 45.7% from the same period last year.