(Seoul, November 6, 2024)• Korean Air posted a third-quarter revenue of KRW 4.2408 trillion (USD 3.213 billion), an increase of 10% year-on-year. This growth was underpinned by successful capacity expansion during the summer peak season and optimized cargo operations, particularly in the e-commerce sector. • Passenger business revenue grew 2% year-on-year to KRW 2.6173 trillion in the third quarter. This performance reflects successful yield management through strategic capacity deployment on high-demand routes during peak periods, such as summer vacation and the Chuseok holiday, along with proactive efforts to attract premium class passengers. • The airline’s cargo business posted a revenue of KRW 1.1198 trillion, representing a 22% year-on-year increase. Despite typical seasonal headwinds, the business leveraged ongoing growth in China’s e-commerce sector to achieve strong results. • In Q4 2024, Korean Air aims to strengthen its market position through targeted initiatives. The passenger business will expand its Southeast Asian network to capture winter demand and implement revenue diversification measures. The cargo division will maintain an agile approach to market dynamics, particularly regarding U.S.-China relations and maritime market fluctuations, while focusing on maximizing opportunities during the peak year-end season.
|
[Q3 2024 Results (Non-consolidated)]
|
|
|
*Unit : KRW billion (USD million)
KRW/USD exchange rate: 1,319.6 |
|---|
| Q3 2024 | Q3 2023 | Remarks |
| Revenue | 4,240.8
(3,213.7) | 3,863.8
(2,928) | +10% YoY |
| Operating Profit | 618.6
(468.8) | 520.3
(394.3) | +19% YoY |
| Net Income | 276.6
(209.6) | 424.5
(321.7) | -35% YoY
|
Tags: third-quarter revenue, Korean Air
