Korean Air hits Q1 sales and profit records

Korean Air said its first quarter sales and operating profits were the highest ever, based on an increase in demand for travel and a strong won. The carrier’s first quarter sales were 2.6 trillion won (US$2.3 billion), up 14.8 per cent from the first quarter of last year, when it achieved its previous record of […]


Korean Air profit record Q1


Korean Air said its first quarter sales and operating profits were the highest ever, based on an increase in demand for travel and a strong won. The carrier’s first quarter sales were 2.6 trillion won (US$2.3 billion), up 14.8 per cent from the first quarter of last year, when it achieved its previous record of 2.3 trillion won. Operating profit also rose to 220.2 billion won in the first quarter, up 45.4 per cent from the previous record of 151.4 billion won, which was recorded in the first quarter of 2007. The high figures were largely due to the performance of the carrier’s passenger division, which contributed 55 pe rcent of total sales, Korean Air said. The number of international passengers reached 3.89 million, 19 per cent more than the 3.27 million in the same period last year, and 14 percent more than the 3.41 million recorded in the first quarter of 2008. Korean Air’s cargo business division, which represented 33 per cent of the carrier’s total sales, was given a boost by the improving global economy and an increase in freight orders, which were in turn boosted by a rise in IT exports. The company’s total air freight volume increased 21.1 per cent from 1.9 billion freight tonne-kilometers in the first quarter of last year to 2.3 billion freight tonne-kilometers.