Korean Air operating profit declines 28% in 2018, cargo yield increases 13%

29 January, 2019

Korean Air reported (29-Jan-2019) the following estimated financial highlights for the 12 months ended Dec-2018:

  • Revenue: KRW12,651 billion (USD11,508 million), +7.2% year-on-year;
    • Passengers: KRW7734 billion (USD7035 million), +9.8%;
    • Cargo: KRW3012 billion (USD2740 million), +7.2%;
  • Operating expense: KRW11,959 billion (USD10.878 million), +10.3%;
    • Fuel expense: KRW3294 billion (USD2996 million), +25.9%;
  • Operating profit: KRW692.4 billion (USD629.8 million), -27.5%;
  • Net profit (loss): (KRW80.3 billion) (USD73.0 million), compared to a profit of KRW907.9 billion (USD802 million) in p-c-p;
  • Passenger traffic (RPKs): +3.0%;
  • Passenger load factor: 80.2%, +0.9ppt;
  • Passenger yield: KRW94.8 (USD 8.6 cents), +4.8%;
  • Cargo traffic (RTKs): -3.5%;
  • Cargo load factor: 76.5%, -2.0ppts;
  • Cargo yield: KRW334.6 (USD 30.4 cents), +12.6%;
  • Total assets: KRW24,395 billion (USD22,190 million);
    • Cash equivalent: KRW1261 billion (USD1147 million);
  • Total liabilities: KRW21,341 billion (USD19,412 million). [more - original PR]

*Based on the average conversion rate at USD1 = KRW1099.36