Korean Air posts Q4 net profit of W140bn

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Korean Air has reported a net profit of won (W) 140 billion ($129 million) for its fourth quarter ended 31 December 2012.

The carrier posted an operating loss of W17.6 billion and an operating income of W3.08 trillion in the quarter as a result of weak economic recovery and high fuel prices, says the company.

International passenger and cargo businesses remained the major revenue contributors for the airline in the quarter, accounting for 57% and 27% of its operating revenue respectively.

For the fiscal year 2012, the airline reported a net profit of W256 billion. Its operating income increased by 3.7% year on year to W12.7 trillion, while operating profit was at W322 billion.

The carrier will add nine aircraft to its fleet this year, including the Airbus A380 and Boeing 777, and expects to see an improvement in its profitability.