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Korean Air reports second highest quarterly revenue in 2Q2010, record operating profit

16-Aug-2010 11:24 AM

Korean Air reported (14-Aug-2010) the following financial/traffic highlights:

  • Three months ended 30-Jun-2010
    • Operating revenue: USD2,344 million, +36.7% year-on-year;
      • Passenger: USD1,228 million, +25.8%;
      • Cargo: USD843.1 million, +86.4%;
    • Operating profit: USD291.0 million, compared to a loss of USD105.2 million in p-c-p;
  • Six months ended 30-Jun-2010:
    • Operating revenue: USD4,492 million, +25.3%;
    • Operating profit: USD473.0 million, compared to a loss of USD99.8 million in p-c-p. [more]

*Based on the conversion rate at USD1 = KRW1,210

The carrier expects profitability to improve “sharply” from 3Q2010 as it expands its international network from Cheongju to Hong Kong, Osaka and Bangkok and from Incheon to Atlanta and Los Angeles (Dow Jones, 13-Aug-2010).