Korean Air quarterly revenue up 8pc on increased demand

KOREAN AIR, South Korea's flag carrier, has announced its third quarter operating revenue increased by 8.1 per cent to KRW2.9 trillion (US$3.2 billion) over the KRW2.3 trillion earned last year.

Operating income increased by 45.2 per cent to KRW281.4 billion and net income increased 3.9 per cent to KRW131.7 billion year on year. The operating margin income increased 3.1 per cent to 11.9 per cent.

Strong results were attributed to more international passenger revenue and the 6.8 per cent growth in US dollar yield. Increased traffic during the summer high season and American Thanksgiving also helped.

Expanded sales in overseas markets, sales increases for first and business class and the addition of charter flights to popular holiday resort destinations have drove international passenger revenue up by 9.8 per cent to KRW1.3 trillion in the third quarter of 2007. For domestic passenger operations, the load factor and yield have both improved despite a slight decrease of 1.3 per cent in revenue compared to the same period last year.