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Korean Air reports USD88m operating loss in 1Q2012

14-May-2012 11:14 AM

Korean Air revenue up 6% - financial highlights for three months ended 31-Mar-2012:

  • Operating revenue: KRW2998 billion (USD2655 billion), +6.3% year-on-year;
  • Operating costs: KRW3097 billion (USD2743 million), +16.5%;
    • Fuel: KRW12,103 billion (USD10,718 million), +21.6%;
    • Labour: KRW4058 billion (USD3594 million), +6.7%;
  • Operating profit (loss): (KRW98.9 billion) (USD87.6 million), compared to a profit of KRW162.9 billion (USD144.3 million) in p-c-p;
  • Net profit (loss): (KRW67.2 billion) (USD59.5 million), compared to a profit of KRW270.9 billion (USD239.9 million) in p-c-p;
  • Passenger traffic (RPKs):
  • Load factor:
    • Domestic: 59.8%, +1.0 ppt;
    • International: 75.7%, -2.0 ppts;
  • Passenger yield:
    • Domestic: USD 17.8 cents, +6.6%;
    • International: USD 9.2 cents, +8.0%;
  • Cargo traffic (FTKs): -9.6%;
  • Outbound cargo traffic: -12%;
    • Japan: -5%;
    • China: -9%;
    • Southeast Asia: -7%;
    • Americas: -16%;
    • Europe: -7%
  • Cargo load factor: 75.4%, +0.1 ppt;
  • Cargo yield: USD 30.8 cents, +0.7%;
  • Total assets: KRW22,823 billion (USD20,212 million), +1.9%;
  • Cash and cash equivalents: KRW1512 billion (USD1339 million), +3.2%;
  • Total liabilities: KRW20,147 billion (USD17,842 million), +2.7%. [more – original PR]

*Based on the average conversion rate at USD1 = KRW1129.19 for the period