Korean Air Co., South Korea's leading carrier, said Wednesday its second-quarter net profit fell 6 percent on-year due to an increase in fuel and labor costs. Net profit for the three months ending in June reached 349 billion won (US$251.2 million), compared with 371.5 billion won during the same period of last year, the company said in a statement. Operating profit fell 12 percent to 413.4 billion won from 468 billion won a year ago. Sales jumped 14 percent on-year to 4.02 trillion won from last year's 3.53 trillion won tally. The company attributed its quarterly performance to increased fuel and labor costs, and other expenses associated with higher business volume. The airline said sales from the passenger business rose by 10 percent on-year thanks to the airline's expanded capacity across its networks, including China, and strong business and leisure demand to the Americas and Europe. Korean Air said it aims to maximize profit by increasing flight frequencies and expanding charter operations during the peak summer travel months in the third quarter. Source: Yonhap News Agency
Related Articles
(2nd LD) S. Korea, U.S. hold new round of talks on defense cost sharing
SEOUL, South Korea and the United States held a new round of negotiations Tuesday on sharing the cost for the upkeep of the 28,500-strong U.S. Forces Korea (USFK), Seoul’s foreign ministry officials said.
The three-day talks in Seoul came about two …
The Treasury Department rushes to prepare One Map for 11 provinces.
Bangkok, The Treasury Department is rushing to prepare One Map for 11 provinces to solve the problem of overlapping areas. Aiming to distribute royal property rental contracts to small investors. The Prime Minister is preparing to grant rental contra…
(LEAD) S. Korea, U.S. stage live-fire air drills amid N.K. threats
South Korea and the United States began a joint live-fire aerial exercise Monday, the South Korean Air Force said, in the latest move to reinforce capabilities to counter North Korean threats. The three-day exercise got under way earlier in the day over waters off South Korea’s western coast, mobilizing some 60 military planes, including South […]