Korean Air operating profit almost halves in 2Q2018

    Korean Air reported (Aug-2018) the following financial highlights for the three months ended 30-Jun-2018:

    • Revenue: KRW3014 billion (USD2791 million), +5.7% year-on-year;
    • Operating costs: KRW2931 billion (USD2714 million), +9.0%;
      • Fuel: KRW796 billion (USD737 million), +29.1%;
      • Labour: KRW540 billion (USD500 million), +7.8%;
    • Operating profit: KRW82 billion (USD75.9 million), -49.0%;
    • Net profit (loss): (KRW276 billion) (USD255.6 million), compared to a loss of KRW210 billion in p-c-p;
    • Passenger traffic (RPKs):
      • Domestic: -12.2%;
      • International: +5.2%;
    • Passenger load factor:
      • Domestic: 80.3%, +0.2ppt;
      • International: 80.7%, +1.3ppt;
    • Passenger yield:
      • Domestic: KRW186.1 (USD 17.2 cents), +4.9%;
      • International: KRW86.9 (USD 8.0 cents), +2.8%;
    • Cargo traffic (FTKs): -4.3%;
    • Cargo load factor: 75.9%, -2.0ppt;
    • Cargo yield: KRW324.4 (USD 30.0 cents), +12.4%;
    • Total assets: KRW24,055 billion (USD22,347 million);
    • Cash and cash equivalents: KRW944 billion (USD877 million);
    • Total liabilities: KRW20,745 billion (USD19,272 million). [more – original PR]

    *Based on the average conversion rate at KRW1 = USD0.000926 for 2Q2018
    *Based on the average conversion rate at KRW1 = USD0.000929 for 1H2018