![]() ![]() Asiana Airlines, on the other hand, disclosed Tuesday a 44.8 percent year-on-year decline in operating profit, amounting to 126.7 billion won for the third quarter. Conversely, the cargo segment faced a 51 percent drop in revenue to 915.3 billion won due to the prolonged offseason for air cargo. ![]() This surge was fueled by robust demand during the summer holidays and Chuseok, the airline said. On the revenue front, Korean Air saw a 76 percent surge in passenger earnings during the third quarter, totaling 2.56 trillion won. “Operating profit declined due to escalating costs in fuel and personnel, stemming from an upswing in the supply of passenger planes,” Korean Air explained. Despite a 5 percent boost in third-quarter revenue to 3.86 trillion won, net profit dwindled by 2 percent to 424.5 billion won. Korean Air on Tuesday reported a 38 percent reduction in operating profit, reaching 520.3 billion won ($391.8 million) in the third quarter. Korean Air and Asiana Airlines, the country's two largest airlines, reported a decline in profits in the third quarter due to challenges in the cargo sector. Korean Air and Asiana Airlines planes are parked at Incheon International Airport on Nov. ![]()
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