Korean Air reports net profit turnaround in 4Q and CY2017

Korean Air reported (Feb-2018) the following non consolidated financial highlights:

• Three months ended 31-Dec-2017:
  • Revenue: KRW3015 billion (USD2723 million), +5.1% year-on-year;
    • Domestic passenger: 4.0% of total revenue;
    • International passenger: 53.9%;
    • Cargo: 26.4%;
    • Aerospace: 5.4%;
  • Operating cost: KRW2784 billion (USD2514 million), +3.4%;
    • Fuel: KRW708 billion (USD639 million), +19.4%;
  • Operating profit: KRW231 billion (USD209 million), +31.7%;
  • Net profit: KRW479 billion (USD433 million), compared to a loss of KRW672 billion in p-c-p;
  • Passenger traffic (RPKs):
    • Domestic: -3.3%;
    • International: +5.1%;
  • Passenger load factor:
    • Domestic: 77.2%, +0.3ppt;
    • International: 76.8%, -1.4ppt;
  • Cargo traffic: +3.4%;
  • Cargo load factor: 79.9%, -0.3ppt;
• 12 months ended 31-Dec-2017:
  • Revenue: KRW11,803 billion (USD10,422 million), +2.6%;
    • Domestic passenger: 4.3%;
    • International passenger: 55.4%;
    • Cargo: 23.8%;
    • Aerospace: 6.2%;
  • Operating cost: KRW10,847 billion (USD9578 million), +4.1%;
    • Fuel: KRW2616 billion (USD2310 million), +19.5%;
  • Operating profit: KRW956 billion (USD844 million), -11.4%;
  • Net profit: KRW908 billion (USD802 million), compared to a loss of KRW591 billion in p-c-p;
  • Total assets: KRW23,563 billion (USD20,806 million);
  • Cash and cash equivalents: KRW576 billion (USD509 million);
  • Total liabilities: KRW19,891 billion (USD17,564 million);
  • Debt ratio: 542%. [more - original PR]

*Based on the average conversion rate at KRW1 = USD0.000903 for 4Q2017
*Based on the average conversion rate at KRW1 = USD0.000883 for CY2017