Asiana Airlines Reports Operating Loss of 70.3 Billion KRW Last Year... Deficit Reduced

As the court's decision on Korean Air's acquisition of Asiana Airlines approaches, on the 30th, Korean Air and Asiana Airlines passenger planes were moving toward the runway at Gimpo Airport apron in Gangseo-gu, Seoul. The Seoul Central District Court is expected to deliver a ruling today or tomorrow on the injunction request filed by the activist private equity fund KCGI against Hanjin KAL to prohibit the issuance of new shares. If the court dismisses the injunction request, the acquisition process will accelerate, but if the injunction is granted, the acquisition is likely to be canceled. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Dongwoo Lee] Asiana Airlines announced on the 16th that its operating loss for last year, based on separate financial statements, was preliminarily estimated at 70.3 billion KRW.

During the same period, sales amounted to 3.5599 trillion KRW, a 39.9% decrease compared to the previous year, and the net loss for the period decreased to 264.8 billion KRW from the previous year.

In the fourth quarter of last year, sales were 880.8 billion KRW and operating profit was 17 billion KRW, marking a profit for three consecutive quarters. Although sales decreased compared to the previous year (1.4413 trillion KRW), the operating loss (322.8 billion KRW) turned into a profit.

Asiana Airlines stated, "The performance of the cargo sector was remarkable, offsetting the sluggish passenger demand."

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