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Cargo success slashes Q1 loss at Korean

Signs of recovery continue at Korean Air as a surge in cargo revenue helped reduce the airline’s first-quarter net loss to $US25 million from a mammoth $US610 million for the same period last year.

The first quarter of 2021 delivered the Korean carrier its fourth consecutive quarter of operating profit, $US110 million, as it benefited from efforts to boost cargo operations and cut costs.

This was despite a 24 percent fall in year-on-year revenue, to $US1.544 billion, stemming from the fall in passenger demand experienced by airlines globally due to COVID.

READ: Virgin Australia scales back short-haul international flying

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Source:: AirlineRatings.Com

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