Asiana Airlines Q3 Operating Profit Soars 2680% YoY... "Cargo Drives Performance" (Update)

A350 Cargo-Only Passenger Aircraft
Photo by Asiana Airlines

[Asia Economy Reporter Kim Heung-soon] Asiana Airlines announced on the 15th that its operating profit for the third quarter of this year was tentatively estimated at 160.3 billion KRW, a 2680% increase compared to 5.8 billion KRW in the same period last year. During the same period, sales increased by 41.7% to 1.036 trillion KRW from 731.1 billion KRW in the previous year.

Although fuel expenses rose by 82% compared to last year due to the increase in oil prices, the company succeeded in turning a profit thanks to increased sales. Cargo business sales led the profit with 754.5 billion KRW, a 56% increase compared to the previous year. This is the highest quarterly performance ever recorded.

By region, sales on routes to the Americas, Southeast Asia, and Europe increased by 69%, 48%, and 26% respectively compared to the previous year. Major transported items include electronic machinery and parts, semiconductors, and manufacturing equipment.

Asiana Airlines is expanding its air cargo transport capacity by operating a total of six dedicated cargo passenger aircraft. International passenger sales recorded 123.4 billion KRW, a 5% increase compared to the same period last year. Sales on long-haul routes such as the Americas and Europe increased by 19% and 13%, respectively.

Asiana Airlines plans to increase flights and resume operations on routes to Frankfurt, Singapore, Bangkok, Saipan, Guam, and Fukuoka, considering the recovery of overseas travel demand.

An Asiana Airlines official said, "While air cargo rates continue to rise, we plan to maximize sales through proactive cargo aircraft operations in preparation for the year-end peak season," adding, "We will also prepare for market changes such as the 'With Corona (gradual return to normal life)' atmosphere."

This content was produced with the assistance of AI translation services.