In its tentative non-consolidated results, Korean Air achieved a revenue of KRW 3.5354 trillion (US$2.693 billion) in its second fiscal quarter, up 6 percent year-on-year, following strong recovery of travel demand. 

Due to rising operation costs and airport fees, the airline posted a moderate operating profit of KRW 468 billion (US$ 356.5 million), down 36 percent compared to the same quarter last year. 

In the second quarter, the airline’s passenger business revenue soared 154 percent year-on-year to KRW 2.221 trillion as capacity jumped 20 percent from the previous quarter to meet strong travel demand.  

Meanwhile, the airline’s cargo business saw revenue plummet 56 percent year-on-year to KRW 963.8 billion, no thanks to decline in air freight demand and more belly capacity leading to a drop in cargo rates. The airline expects this will persist in the next quarter and as such will proactively work to procure new freight demand and efficiently manage operations for increased revenue. 

Korean Air anticipates stronger results from its passenger business in the next quarter, citing robust travel demand during summer and autumn holiday peak seasons. It plans to expand operations to popular vacation destinations and flexibly increase capacity on routes where high demand is expected.