Korean Air operating profit down 82% in 1H2019, net loss widens

    Korean Air reported (19-Aug-2019) the following financial highlights for the six months ended Jun-2019:

    • Revenue: KRW6070 billion (USD5305 million), +0.6% year-on-year;
      • Passengers: KRW3851 billion (USD3366 million), +4.1%;
      • Cargo: KRW1275 billion (USD1114 million), -9.6%;
    • Operating expense: KRW6023 billion (USD5264 million), +4.4%;
      • Fuel expense: KRW1541 billion (USD1347 million), +1.0%;
    • Operating profit: KRW46.7 billion (USD40.8 million), -82.0%;
    • Net profit (loss): (KRW415 billion) (USD362.7 million), +64.6%;
    • Passenger yield: KRW94.9 (USD 8.3 cents), +1.1%;
    • Cargo yield: KRW353.9 (USD 30.9 cents), +1.2%;
    • Total assets: KRW25,792 billion (USD22,543 million);
      • Cash equivalent: KRW1190 billion (USD1040 million);
    • Total liabilities: KRW23,033 billion (USD20,131 million).