Asiana 4Q2011 operating profit up 45%, expects 32% growth in 2012

Asiana Airlines revenue up 8% - financial highlights:

• Three months ended 31-Dec-2011:
  • Revenue: USD1211 million, +7.8% year-on-year;
  • Total costs: USD1161 million, +6.6%;
    • Labour: USD130.6 million, -31.2%;
  • Operating profit: USD49.1 million, +45.4%;
  • Net profit (loss): (USD14.0 million), compared to a loss of USD8.9 million in p-c-p;
  • Passenger traffic (RPKs):
    • International: +7.2%;
  • Passenger load factor:
    • International: 74.3%, -1.7 ppts;
  • Passenger yield:
    • International: USD 9.73 cents, +7.0%;
  • Cargo traffic (FTKs): +6.6%;
  • Cargo load factor: 79.2%, -0.6 ppts;
  • Cargo yield: USD 30.27 cents, -4.9%;
• 12 months ended 31-Dec-2011:
  • Revenue: USD4764 million, +5.8%;
  • Cost of sales: USD3952 million, +16.0%;
  • Operating profit: USD306.9 million, -39.7%;
  • Net profit: USD14.7 million, -93.2%;
  • Fleet: 71 aircraft, including 44 under operating lease, 17 under finance lease and 10 owned;
    • Passenger fleet: 62 including 11 A320-200s, two A321-100s, 15 A321-200s, 10 A330-300s, two Boeing 737-400s, seven 767-300s, 11 777-200ERs, two 747-Pax and two 747-Com;
    • Freighter fleet: Nine, including one 767F and eight 747Fs;
  • Assets: USD4710 million, -11.4%;
  • Liabilities: USD3986 million, -13.2%.
• 2012 forecast:
  • Revenue: USD5093 million, +7.6%;
  • Operating profit: USD403.9 million, +31.6%;
  • International passenger traffic: +9.7%;
  • International passenger capacity: +6.9%;
  • International passenger yield: USD 9.63 cents, +0.2%;
  • Cargo traffic: +5.0%;
  • Cargo capacity: +3.4%;
  • Cargo yield: USD 31.74 cents, +4.1%;
  • Fleet: Plans to introduce seven passenger aircraft and two freighter aircraft;
  • Routes: Strengthen Korea-China-Japan routes;
  • Assets: USD5113 million, +8.5%;
  • Liabilities: USD4091 million, +2.6%. [more - original PR]

*Based on the conversion rate at USD1 = KRW1119.1