Loading
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

Want More News Like This?

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