[Featured Stock] Korean Air Rises on Strong Expectations for Surprise Q4 Earnings
[Asia Economy Reporter Song Hwajeong] Korean Air is showing strength amid expectations for its fourth-quarter performance this year.
As of 9:25 AM on the 29th, Korean Air was trading at 29,700 KRW, up 700 KRW (2.41%) from the previous day.
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On this day, Daishin Securities estimated Korean Air's fourth-quarter revenue to be 2.8082 trillion KRW, a 47.5% increase compared to the same period last year, and operating profit to be 660 billion KRW, a 57.5% increase. These figures exceed the consensus by 7.22% and 53.49%, respectively. Yang Jihwan, a researcher at Daishin Securities, stated, "The increased air cargo volume will contribute to growth," adding, "Due to COVID-19, there has been a global shortage of cargo supply, and the peak season coincides with this period, leading to record-high freight rates."
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