Korean Air recorded an operating profit for a fifth consecutive quarter thanks to its continuous efforts to boost cargo operations and reduce costs, despite the drop in passenger demand caused by the COVID-19 pandemic.
Compared to the second quarter in 2020, revenue increased by 16% to $1,726 million and operating profit rose by 31% to $174 million.
The cargo business achieved a revenue of KRW 1.5108 trillion, the highest number in the airline’s history.
Although passenger demand remains low due to the spread of COVID-19 variants, Korean Air continues to work to secure demand by operating international charter flights and its domestic routes to/from Jeju.
Passenger demand is expected to be sluggish in the second half of the year, and it is also difficult to predict when it will recover.
Korean Air’s passenger business will operate its international routes flexibly while closely monitoring the market situation, including travel restrictions of major hub cities, vaccination rates, application of digital health passes, and new travel bubbles.
* Unit: KRW billion (USD million)