Korean Air has reported a first-quarter revenue of KRW 3.8225 trillion (USD 2.8382 billion), an increase of 20% year-on-year, driven by the strong recovery in passenger traffic and robust cargo demand.
Operating profit increased 5% year-on-year to KRW 436.1 billion (USD 323.8 million) despite higher fuel costs, airport and facility charges and labor-related costs. Passenger business revenue increased 32% year-on-year to KRW 2.3421 trillion in the first quarter.
The airline’s network capacity has almost recovered to pre-pandemic 2019 levels, except to China. Profitability improved through capacity expansion on Southeast Asia and Japan routes, catering to the strong tourism demand.
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Source:: AirlineRatings.Com