Asiana Airlines reported an operating loss of 179 billion won in the third quarter of this year, impacted by high fuel prices and increased safety investments.
On November 12, Asiana Airlines announced that its standalone revenue for the third quarter reached 1.53 trillion won, marking a 4.2% increase compared to the same period last year. Passenger revenue amounted to 1.27 trillion won, a 9.7% rise year-on-year.
The airline's profitability improved due to the expansion of high-yield short-haul routes and increased capacity on European routes during the summer peak season. The passenger load factor also rose by 1.2 percentage points compared to the same period last year.
However, cargo revenue fell to 96.6 billion won, a decrease of 47.4 billion won from the previous year, largely due to the sale of its cargo division in August 2022.
The operating loss was attributed to rising fuel costs, which increased by 147.2 billion won compared to the previous year, and expanded maintenance investments for safe operations. Additional burdens included improvements to in-flight meal menus, upgrades to cabin interiors and lounges, and costs associated with the integration process.
Despite the operating loss, the company recorded a net profit due to a foreign exchange gain of 460.4 billion won resulting from a decline in the settlement exchange rate at the end of the third quarter. Asiana Airlines plans to address the seasonal downturn in the fourth quarter and fluctuations in fuel prices and exchange rates while expanding the application of Starlink in-flight internet services. The airline will also focus on preparations for a stable launch of the integrated airline.
* This article has been translated by AI.
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