A rebound in international traffic helped Korean Air return to the black in 2010. The South Korean airline achieved full year net income of 468.4 billion KRW, against a loss of 98.9 billion KRW in 2009.
The carrier attributed the improved figures to the overall recovery of the aviation industry and a “significant” rebound in the international passenger business. Annual international passenger carryings rose by 6.4%, including a 13% increase in the final quarter of 2010.
The carrier recorded “robust growth” in markets such as China, South East Asia and Japan. Capital expenditure this year will increase by 33% to support Korean Air’s fleet expansion plan including the introduction of Airbus A380 superjumbos from June on routes to Japan and Hong Kong followed by Bangkok, New York and Los Angeles.
“Korean Air will stay focused on its business expansion strategy while being vigilant to unpredictable challenges in the market,” the airline said.