Korean Air Posts Record KRW 16.5 Trillion Annual Sales Despite High Dollar
Creatrip Team
2 months ago
Korean Air reported a record annual revenue of KRW 16.5 trillion and preliminary Q4 sales of KRW 4.55 trillion, up 13% year-on-year, while Q4 operating profit fell 5% to KRW 413.1 billion. Despite pressure from a strong dollar (high exchange rate), the airline limited profit deterioration as short-haul passenger demand to Japan and China around the Chuseok (추석) holiday and steady air cargo performance helped offset higher dollar-denominated costs like aircraft lease and maintenance. Q4 passenger revenue rose to KRW 2.59 trillion and cargo to KRW 1.23 trillion. On a consolidated basis, weaker results from low-cost carrier (LCC) affiliates such as Jin Air, Air Seoul, and Air Busan weighed on profits; analysts expect sizeable year‑on‑year drops in consolidated operating profit. Korean Air plans to boost international sales and flexibly increase capacity around the Lunar New Year (설) holiday while closely managing competitive market conditions amid ongoing high exchange rates.
