25-Feb-2011 11:59 AM
Korean Air continues profitability in 4Q2010
Korean Air revenue up 12% - financial highlights:
- Three months ended 31-Dec-2010:
- Revenue: USD2571 million, +12.4% year-on-year;
- Operating costs: USD2101 million, +12.7%;
- Fuel: USD808.8 million, +16.1%;
- Labour**: USD284.0 million, +21.9%;
- Operating profit: USD167.5 million, +22.6%;
- Net profit: USD61.7 million, -18.0%;
- Passenger traffic (RPKs):
- Domestic: +7.3%;
- International: +6.5%;
- Load factor:
- Domestic: 62.2%, +3.3 ppts;
- International: 75.1%, +3.4 ppts;
- Passenger yield:
- Domestic: USD 16.71 cents, +2.9%;
- International: USD 8.85 cents, +15.7%;
- Cargo traffic (RFTKs): +1.7%;
- Cargo load factor: 75.7%, -0.1 ppt;
- Cargo load factor: USD 32.00 cents, +1.1%;
- 12 months ended 31-Dec-2010:
- Revenue: USD10,166 million, +22.0%;
- Operating costs: USD8000 million, +13.0%;
- Fuel: USD3061 million, +17.4%;
- Labour**: USD1054 million, +16.9%;
- Operating profit: USD992.9 million, +739%;
- Net profit: USD415.5 million, compared to a loss of USD87.7 million in p-c-p;
- Total assets: USD15,887 million, +5.8%;
- Total liabilities: USD12,773 million, +3.9%;
- 2011 forecast:
- Operating revenue: USD11,063 million, +8.8%;
- Operating cost: USD9928 million;
- Operating profit: USD1136 million, +14.4%;
- Passenger traffic: +8.3%;
- Passenger capacity (ASKs): +7.7%;
- Passenger load factor: 76.5%, +0.4 ppt;
- Cargo traffic: +3.8%;
- Cargo capacity: +4.2%;
- Cargo load factor: 76.0%, -0.3 ppts. [more]
*Based on the conversion rate at USD1 = KRW1127.16
**Excluding SG&A