Korean Air operating profit down 16% in 1Q2019, net profit turns into the red

    Korean Air reported (15-May-2019) the following financial highlights for the three months ended 31-Mar-2019:

    • Revenue: KRW3050 billion (USD2711 million), +1.1% year-on-year;
      • Passengers: KRW1906 billion (USD1694 million), +2.9%;
      • Cargo: KRW644.6 billion (USD573.0 million), -7.6%;
    • Operating expense: KRW2902 billion (USD2580 million), +2.2%;
      • Fuel expense: KRW724.7 billion (USD644.3 million), -0.6%;
    • Operating profit: KRW148.2 billion (USD131.7 million), -16.2%;
    • Net profit (loss): (KRW34.2 billion) (USD30.4 million), compared to a profit of KRW23.3 billion in p-c-p;
    • Passenger yield: KRW96.7 (USD 8.6 cents), +1.1%;
    • Cargo yield: KRW354.0 (USD 31.5 cents), +1.9%;
    • Total assets: KRW25,922 billion (USD23,045 million);
      • Cash equivalent: KRW1296 billion (USD1152 million);
    • Total liabilities: KRW22,959 billion (USD20,411 million).