12-May-2011 11:20 AM

Asiana Airlines' operating profit drops 30% in 1Q2011

Asiana Airlines revenue up 7% – financial* highlights for the three months ended 31-Mar-2011:

  • Revenue: USD1173 million, +7.1% year-on-year;
  • Total costs: USD1103 million, +11.5%;
    • Operating costs: USD954.0 million, +12.7%;
      • Fuel: USD376.3 million, +23.4%;
      • Labour: USD126.2 million, +14.2%;
  • Operating profit: USD91.9 million, -30.2%;
  • Net profit: USD57.7 million, -34.4%;
  • Passenger traffic (RPKs):
    • International: -4.1%;
  • Passenger load factor:
    • International: 73.5%, -6.2 ppts;
  • Passenger yield:
    • International: USD 10.23 cents, +17.5%;
  • Cargo traffic (FTKs): +7.2%;
  • Cargo load factor: 79.9%, -1.7 ppt;
  • Cargo yield: USD 31.38 cents, -3.8%;
  • Total assets: USD5562 million, +0.2% when compared with the period ended 31-Dec-2010;
  • Total liabilities: USD4771 million, -0.6% when compared with the period ended 31-Dec-2010. [more]

* Based on the conversion rate USD1 = KRW1070.96

Asiana: "Travel demand will get a boost from a combination of economic recovery, a strong won, and increased number of holidays throughout the year. A decline in travel demand to Japan will be offset by an increase in travel demand to China and Southeast Asia,” Company statement. Source: Reuters, 11-May-2011.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More