Seoul Incheon Airport forecasts USD13m net loss for 2020, first loss since 2003

    Incheon International Airport Corporation (IIAC) stated (23-Apr-2020) it expects Seoul Incheon International Airport to record a KRW16.3 billion (USD13.2 million) net loss in 2020, down from a KRW866.6 billion (USD700.8 million) net profit in 2019 and marking the first time the airport will record a loss since 2003. IIAC expects the airport to record KRW1.6 trillion (USD1.3 billion) in revenue in 2020, a 42% projected year-on-year decrease. The airport’s operating profit is expected to decrease 98% to KRW19.8 billion (USD16 million) in 2020. The forecast decline is attributable to the impact of coronavirus on traffic at Seoul Incheon.