Korean Air reports operating turnaround in 2Q2016

Korean Air revenue up 1% - consolidated financial highlights for three months ended 30-Jun-2016:

• Revenue: KRW2818 billion (USD2422 million), +1.1% year-on-year;
• Operating costs: KRW2659 billion (USD2285 million), -4.7%;
• • Fuel: KRW536 billion (USD450.6 million), -28.8%;
  • Labour: KRW459 billion (USD394 million), -2.0%;
• Operating profit: KRW159 billion (USD136.6 million), compared to a loss of KRW3 billion (USD2.7 million) in p-c-p;
• Net profit (loss): (KRW251 billion) (USD215.7 million), compared to a loss of KRW169 billion (USD154.0 million) in p-c-p;
• Passenger traffic (RPKs):
• • Domestic: +8.6%;
  • International: +6.0%;
• Passenger load factor:
• • Domestic: 80.6%, +6.3 ppts;
  • International: 78.1%, +1.8 ppt;
• Passenger yield:
• • Domestic: KRW169 (USD14.52 cents), -3.2%;
  • International: KRW85.4 (USD 7.34 cents), -2.3%;
• Cargo traffic (FTKs): -0.5%;
• Cargo load factor: 76.7%, -0.9 ppt;
• Cargo yield: KRW257.7 (USD 22.14 cents), -5.5%;
• Total assets: KRW24,396 billion (USD20,964 million);
• Cash and cash equivalents: KRW816 billion (USD701 million);
• Total liabilities: KRW22,332 billion (USD19,190 million). [more - original PR]

*Based on the average conversion rate at USD1 = KRW1163.73 for 2Q2016
*Based on the average conversion rate at USD1 = KRW1097.51 for 2Q2015