12-Apr-2010 10:03 AM

Asiana Airlines reportedly improved results in 1Q2010: reports

Asiana Airlines reportedly expects to report record 1Q2010 results, with passenger and cargo traffic reportedly increasing 31.2% and 27.6% year-on-year, respectively, with profits also up in both sectors in the quarter, which is traditionally a low-season in Korea (Korea Times, 11-Apr-2010). The result is reportedly prompting Kumho Group creditors to consider giving Asiana more time to recover without creditor involvement, with a decision regarding Asiana reportedly expected to be announced at the end of Apr-2010. However, a key concern remains Asiana's high debt levels, currently standing at KRW3.7 trillion (USD3.3 billion), and reportedly increasing by KRW200 billion (USD181 million) p/a due to interest expenses.