Korean Air returns to black in q3

Seoul (ANTARA News/Asia Pulse) - Korean Air Lines Co. (KSE:003490), South Korea's top airline, announced today that it bounced back into the black during the third quarter of this year, helped by cheaper fuel costs and a stronger won.

Korean Air earned 264 billion won (US$227.9 million) in the three months to September, compared with a net loss of 684 billion won for the same period a year ago, the company said in a statement.

The result marked the second straight quarterly profit this year, according to the statement. Korean Air also returned to an operating profit of 100 billion won for the July-September period, though sales fell 10.3 per cent to 2.47 trillion won.


Source:
Business in Asia Today - Nov 10, 2009
published by Asia Pulse