[Featured Stock] Korean Air Rises on Q2 Earnings Surprise News
[Asia Economy Reporter Minji Lee] Korean Air is on the rise after posting second-quarter results that exceeded market expectations.
At 9:58 a.m. on the 7th, Korean Air was trading at 19,350 KRW, up 6.4% from the previous session on the KOSPI market. Korean Air Preferred shares hit the upper limit (30.00%), reaching 24,700 KRW.
In the second quarter, Korean Air recorded a turnaround to a profit of 148.5 billion KRW compared to the same period last year. Despite a sharp decline in passenger revenue, the increase in cargo revenue is analyzed to have improved the performance.
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Kim Yoo-hyuk, a researcher at Hanwha Investment & Securities, explained, “Although a short-term recovery in passenger demand is not easy, the shortage of cargo transport capacity due to passenger flight restrictions is expected to continue in the second half of the year, maintaining favorable cargo market conditions.”
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