Korean Air slips to Q2 loss
July 20, 2012 by AFP
Filed under Aviation, News, North Asia
SEOUL, 20 July 2012: Flag carrier Korean Air said Thursday it swung to a net loss in the second quarter of this year mainly due to foreign exchange losses.
The airline posted a net loss of 158.48 billion won (US$139.05 million) in the April to June period, compared with a profit of 21.15 billion won a year earlier.
Sales rose 11.1% from a year ago to 3.27 trillion won.
The company posted an operating profit of 128.5 billion won in the quarter, compared with a loss of 19.73 billion won a year earlier, as it ferried more passengers.
Korean Air expects better results in the third quarter, citing lower fuel prices and stable foreign exchange rates.
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