Korean Air says Q2 saw record revenue

Korean Air said in the second quarter the airline achieved a record quarterly revenue of KRW 4.0237 trillion (US$2.8964 billion), representing a 14% increase year-on-year. This achievement was driven by proactive responses to seasonal changes in passenger demand across networks, and active efforts in securing air cargo demand. Operating profit, however, decreased by 12% year-on-year due to increased fuel and labor costs, and other expenses associated with higher business volume. Revenue from the passenger business rose by 10% year-on-year to KRW 2.4446 trillion. This increase was a result of the airline’s expanded capacity across its networks, including China, and strong business and leisure demand to the Americas and Europe. Cargo business revenue increased by 14% year-on-year to KRW 1.0972 trillion, driven by increased e-commerce volumes from China on top of steady air cargo demand from the semiconductor, automotive and display industries. In Q3, the airline aims to maximise profit by increasing flight frequencies and expanding charter operations during the peak summer travel months. The cargo business will continue to accommodate e-commerce demand with additional charter flights and enhance competitiveness through flexible route operations. For Editorial Inquiries Contact: Editor Matt Driskill at [email protected] For Advertising Inquiries Contact: Head of Sales Kay Rolland at [email protected]