Business

Korean Air Posts Record Operating Profit

By Lee Sung-hoon | October 26, 2016 10:57

Korean Air posted a record operating profit in the third quarter of this year, the airline said on Tuesday.


The airline's operating profit stood at W447.64 billion in the July-September period, up 35 percent on-year and a quarterly record. Its sales also rose five percent to W3.57 trillion.


The significant rise in operating profit is due to decreased operating costs from low global oil prices.


A Korean Air spokesman said that the third quarter earnings already reflect losses from its troubled affiliate Hanjin Shipping and thus additional losses from the shipper's liquidation are not likely.

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