Korean Air incurred a net loss in the third quarter to September despite improved international business.
The South Korea carrier did not outline the level of loss other than to say: “Due to a surge in jet fuel expenses and foreign currency loss, a net loss resulted during the period.”
The airline achieved operating revenue of 3,187.5 billion KRW in the three months, a year-on-year increase of 3.4%, and an operating profit of 209.7 billion KRW.
The introduction of the Airbus A380 superjumbo and Boeing 777 helped boost international traffic, which accounted for more than 80% of revenue in the period.
“Following the introduction of new aircraft, including the A380 and B777, starting from the second quarter this year, the airline saw enhanced competitiveness of our fleet in particular for the long-haul routes, hence contributed to the overall surge in the profitability of this segment,” the carrier said.
The airline that operates a fleet of 139 aircraft will continue to expand its business “prudently” while enhancing the quality of its service for the remainder of the year, it said.