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Korean Air continues profitability in 4Q2010

25-Feb-2011 11:59 AM

Korean Air revenue up 12% - financial highlights:

  • Three months ended 31-Dec-2010:
    • Revenue: USD2571 million, +12.4% year-on-year;
    • Operating costs: USD2101 million, +12.7%;
      • Fuel: USD808.8 million, +16.1%;
      • Labour**: USD284.0 million, +21.9%;
    • Operating profit: USD167.5 million, +22.6%;
    • Net profit: USD61.7 million, -18.0%;
    • Passenger traffic (RPKs):
      • Domestic: +7.3%;
      • International: +6.5%;
    • Load factor:
      • Domestic: 62.2%, +3.3 ppts;
      • International: 75.1%, +3.4 ppts;
    • Passenger yield:
      • Domestic: USD 16.71 cents, +2.9%;
      • International: USD 8.85 cents, +15.7%;
    • Cargo traffic (RFTKs): +1.7%;
    • Cargo load factor: 75.7%, -0.1 ppt;
    • Cargo load factor: USD 32.00 cents, +1.1%;
  • 12 months ended 31-Dec-2010:
    • Revenue: USD10,166 million, +22.0%;
    • Operating costs: USD8000 million, +13.0%;
      • Fuel: USD3061 million, +17.4%;
      • Labour**: USD1054 million, +16.9%;
    • Operating profit: USD992.9 million, +739%;
    • Net profit: USD415.5 million, compared to a loss of USD87.7 million in p-c-p;
    • Total assets: USD15,887 million, +5.8%;
    • Total liabilities: USD12,773 million, +3.9%;
  • 2011 forecast:
    • Operating revenue: USD11,063 million, +8.8%;
    • Operating cost: USD9928 million;
    • Operating profit: USD1136 million, +14.4%;
    • Passenger traffic: +8.3%;
    • Passenger capacity (ASKs): +7.7%;
    • Passenger load factor: 76.5%, +0.4 ppt;
    • Cargo traffic: +3.8%;
  • Cargo capacity: +4.2%;
  • Cargo load factor: 76.0%, -0.3 ppts. [more]

*Based on the conversion rate at USD1 = KRW1127.16

**Excluding SG&A