Asiana Posts 229.3 Billion KRW Operating Profit in 3Q... "Passenger Business Booms"

A330 Aircraft

[Asia Economy Reporter Choi Dae-yeol] Asiana Airlines announced on the 14th that its separate basis operating profit for the third quarter was 229.3 billion KRW, an increase of 43.1% compared to the same period last year. The company has maintained profits for six consecutive quarters.

Revenue rose 47.2% to 1.5249 trillion KRW during the same period. However, due to a sharp rise in the KRW-USD exchange rate, the company recorded a net loss of 172.3 billion KRW from foreign currency translation losses.

The increase in revenue was due to the relaxation of domestic and international entry and exit regulations, which led to an increase in international flights. Passenger business revenue reached 742.2 billion KRW, a 326% increase compared to the same period last year. In line with the easing of COVID-19, the airline expanded international flights by resuming routes to Beijing, Istanbul, and Barcelona as the external environment changed.

Additionally, the airline restored A350 and A330 aircraft, which had been converted to cargo-only passenger planes, back to passenger planes to increase seat supply. Operations of the super-large passenger aircraft A380 also resumed. Overall international flight revenue increased by 423%.

Cargo business revenue was recorded at 680.2 billion KRW. The company explained that due to the global economic slowdown, a sharp drop in maritime transport freight rates, reduced air cargo demand, and intensified competition caused by increased belly cargo supply, revenue decreased by 9.8% compared to the same period last year. In response to changes in the cargo business environment, the company defended profitability by adjusting cargo aircraft utilization rates and adjusting sales proportions based on regional market prices.

An Asiana Airlines official said, "By defending cargo business profits in response to changes in the external environment and focusing on the recovery of international passengers, we were able to maintain operating profit for six consecutive quarters. Going forward, we will increase international passenger routes and operate aircraft flexibly according to changes in external demand to improve profitability."

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