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Asiana Airlines' operating profit drops 30% in 1Q2011

12-May-2011 11:20 AM

Asiana Airlines revenue up 7% – financial* highlights for the three months ended 31-Mar-2011:

  • Revenue: USD1173 million, +7.1% year-on-year;
  • Total costs: USD1103 million, +11.5%;
    • Operating costs: USD954.0 million, +12.7%;
      • Fuel: USD376.3 million, +23.4%;
      • Labour: USD126.2 million, +14.2%;
  • Operating profit: USD91.9 million, -30.2%;
  • Net profit: USD57.7 million, -34.4%;
  • Passenger traffic (RPKs):
    • International: -4.1%;
  • Passenger load factor:
    • International: 73.5%, -6.2 ppts;
  • Passenger yield:
    • International: USD 10.23 cents, +17.5%;
  • Cargo traffic (FTKs): +7.2%;
  • Cargo load factor: 79.9%, -1.7 ppt;
  • Cargo yield: USD 31.38 cents, -3.8%;
  • Total assets: USD5562 million, +0.2% when compared with the period ended 31-Dec-2010;
  • Total liabilities: USD4771 million, -0.6% when compared with the period ended 31-Dec-2010. [more]

* Based on the conversion rate USD1 = KRW1070.96

Asiana: "Travel demand will get a boost from a combination of economic recovery, a strong won, and increased number of holidays throughout the year. A decline in travel demand to Japan will be offset by an increase in travel demand to China and Southeast Asia,” Company statement. Source: Reuters, 11-May-2011.