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13-Feb-2012 12:10 PM

Asiana 4Q2011 operating profit up 45%, expects 32% growth in 2012

Asiana Airlines revenue up 8% – financial highlights:

  • Three months ended 31-Dec-2011:
    • Revenue: USD1211 million, +7.8% year-on-year;
    • Total costs: USD1161 million, +6.6%;
      • Labour: USD130.6 million, -31.2%;
    • Operating profit: USD49.1 million, +45.4%;
    • Net profit (loss): (USD14.0 million), compared to a loss of USD8.9 million in p-c-p;
    • Passenger traffic (RPKs):
      • International: +7.2%;
    • Passenger load factor:
      • International: 74.3%, -1.7 ppts;
    • Passenger yield:
      • International: USD 9.73 cents, +7.0%;
    • Cargo traffic (FTKs): +6.6%;
    • Cargo load factor: 79.2%, -0.6 ppts;
    • Cargo yield: USD 30.27 cents, -4.9%;
  • 12 months ended 31-Dec-2011:
    • Revenue: USD4764 million, +5.8%;
    • Cost of sales: USD3952 million, +16.0%;
    • Operating profit: USD306.9 million, -39.7%;
    • Net profit: USD14.7 million, -93.2%;
    • Fleet: 71 aircraft, including 44 under operating lease, 17 under finance lease and 10 owned;
      • Passenger fleet: 62 including 11 A320-200s, two A321-100s, 15 A321-200s, 10 A330-300s, two Boeing 737-400s, seven 767-300s, 11 777-200ERs, two 747-Pax and two 747-Com;
      • Freighter fleet: Nine, including one 767F and eight 747Fs;
    • Assets: USD4710 million, -11.4%;
    • Liabilities: USD3986 million, -13.2%.
  • 2012 forecast:
    • Revenue: USD5093 million, +7.6%;
    • Operating profit: USD403.9 million, +31.6%;
    • International passenger traffic: +9.7%;
    • International passenger capacity: +6.9%;
    • International passenger yield: USD 9.63 cents, +0.2%;
    • Cargo traffic: +5.0%;
    • Cargo capacity: +3.4%;
    • Cargo yield: USD 31.74 cents, +4.1%;
    • Fleet: Plans to introduce seven passenger aircraft and two freighter aircraft;
    • Routes: Strengthen Korea-China-Japan routes;
    • Assets: USD5113 million, +8.5%;
    • Liabilities: USD4091 million, +2.6%. [more - original PR]

*Based on the conversion rate at USD1 = KRW1119.1

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