Asiana reports widening net loss on high fuel costs and slowing cargo in 4Q2011

Asiana Airlines reported a widening in net loss from KRW9900 million (USD8.8 million) in 4Q2010 to KRW15,100 million (USD13.5 million) in 4Q2011 due to high fuel costs and slowing cargo traffic due to the global economic crisis. According to Yonhap reports, details include:

• Revenue: USD1206 million, +7.8% year-on-year;
• Operating profit: USD49.1 million, +45.4%;
• Net profit (loss): (USD13.5 million), compared to a loss of USD8.8 million in p-c-p.

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