Korean Air operating profit up 70% in 1Q2016

Korean Air revenue stable - financial highlights for three months ended 31-Mar-2016:

• Revenue: KRW2867 billion (USD2388 million), -0.1% year-on-year;
• Operating costs: KRW2544 billion (USD2119 million), -5.1%;
• • Fuel: KRW475 billion (USD395.7 million), -39.8%;
  • Labour: KRW443 billion (USD369 million), +1.4%;
• Operating profit: KRW323 million (USD269.1 million), +70.0%;
• Net profit (loss): (KRW175 billion (USD145.8 million), compared to a loss of KRW133 million (USD120.8 million) in p-c-p;
• Passenger traffic (RPKs):
• • Domestic: +6.1%;
  • International: +8.1%;
• Passenger load factor:
• • Domestic: 72.3%, +3.1 ppts;
  • International: 77.1%, +0.7 ppt;
• Passenger yield:
• • Domestic: KRW169.2 (USD 14.1 cents), -2.5%;
  • International: KRW89.7 (USD 7.5 cents), -1.1%;
• Cargo traffic: -12.1%;
• Cargo load factor: 74.8%, -5.1 ppts;
• Cargo yield: KRW268.9 (USD22.4 cents), -12.8%;
• Total assets: KRW23,505 billion (USD19,580 million);
• Cash and cash equivalents: KRW597 billion (USD497.3 million);
• Total liabilities: KRW21,196 billion (USD17,656 million). [more - original PR]

*Based on the average conversion rate at KRW1 = USD0.000833 for 1Q2016
*Based on the average conversion rate at KRW1 = USD0.000908 for 1Q2015