Pax, cargo & low oil price bolster Asiana

Asiana Airlines, South Korea’s secondlargest flag carrier, said Wednesday it swung to a net profit in 2014 as the weak yen and falling oil prices bolstered demand for its flights.


cargo & low oil price bolster Asiana Pax


Asiana Airlines, South Korea’s secondlargest flag carrier, said Wednesday it swung to a net profit in 2014 as the weak yen and falling oil prices bolstered demand for its flights. Net profit came to 62.7 billion won (US$57.2 million) on a consolidated basis last year, a turnaround from a loss of 114.7 billion won a year earlier, the company said in a regulatory filing.

The airline reported 98.1 billion won in operating income, a turnaround from a loss of 11.2 billion won a year earlier, while its sales expanded two per cent to 5.84 trillion won. “Encouraged by the weak yen, passengers traveling to Japan, China and Southeast Asian countries steadily grew compared with a year earlier,” the company said. “Demand for air freight transport also expanded thanks to the recovering US economy and cargo pileups at seaports in western regions,” it added.