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

20 August, 2019

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). [more - original PR]

*Based on the average conversion rate at KRW1 = USD0.000874