Korean Air swings to operating profit in Q2 2012

This story is sourced from Pro
See more Pro news »

Korean Air's second-quarter operating income grew by 9.9% year on year to won (W) 3,119 billion ($2.73 billion).

The airline swung to an operating profit of W100 billion in the second quarter from a loss of W38 billion in the same period last year.

In the quarter ended 30 June, international passenger and cargo businesses accounted for 56.8% and 25.1% of operating revenue respectively, the airline says.

Traffic across all routes increased, with that from the Commonwealth of Independent States growing by 41%, Japan rising by 28%, China increasing by 18% and Europe up by 15%.

The airline is expected to see an improvement in profitability as a result of stabilising jet fuel prices and exchange rates.