Asiana reports W47.3bn net loss for Q2

This story is sourced from Pro
See more Pro news »

South Korea's Asiana Airlines posted a net loss of W47.3 billion ($41.9 million) in the second quarter of 2012, compared with a net profit of W17.7 billion in the corresponding period last year.

For the three months ended 30 June, its revenue increased by 4.6% to W1.37 trillion and its total expenses rose by 7.6% to W1.34 trillion, the carrier says.

Operating income for the period amounted to W27 billion, a decline of 56% from the same period last year.

International passenger traffic for the second quarter, as measured in RPKs, grew by 6.8% year-on-year. This is against a 4% rise in capacity, as measured in ASKs, leading to a 2.1 percentage point increase in load factors to 78.5%.

For the six months ended 30 June, the airline posted a net loss of W44.1 billion from a net profit of W79.5 billion same period last year.

Revenue for the first half increased by 6.1% year-on-year to W2.72 trillion, while operating income declined by 54.2% to W62.5 billion.

RPKs for the half year on international routes grew by 9.1% year-on-year, against a 6.8% increase in ASKs, leading to 1.6 percentage point growth in load factors to 77.9%.