Korean Air operating profit up 23% in 4Q2010

Korean Air reports the following financial highlights for the three months ended Dec-2010 (Bloomberg/reuters, 27-Jan-2011):

• Sales: USD2608.5 million, +12% year-on-year;
• Operating profit: USD169.8 million, +23%;
• Net income: USD62.6 million, -18%;
• International passenger traffic: +6.5%;
• 2011 forecast:
  • Operating profit: USD1.1 billion, +14%;
  • Passenger traffic: +8.3%;
  • Cargo traffic: +3.8%.

* Based on the conversion rate USD1 = KRW1111.75