이 누리집은 대한민국 공식 전자정부 누리집입니다.

한상넷

비즈니스 정보

Biz News Korea(Eng)

Korean Air Lines posts quarterly record high with $394 mn in Q3 OP

Collected: 2016.10.26

Distributed: 2016.10.27

Source: Go Direct

Korean Air Lines Co., South Korea’s largest full-service carrier, announced on Tuesday that it posted a record quarterly operating profit of 447.6 billion won ($394 million) in the July-September period, up 34.9 percent from the same period last year, benefiting from favorable exchange rate and oil prices.

Its third-quarter sales increased 4.7 percent from the same period last year to reach 3.06 trillion won. The net turned to 428 billion won in black from red figures.

The strong performance came even after it reflected 825.1 billion won losses for its exposure to troubled sister company Hanjin Shipping Co. that went under bankruptcy court across the first nine months of the year. Its debt-to-asset ratio fell to 917 percent from 1,109 percent in late June.

The flag carrier made it clear that there would be no more funding for the shipper.

The airliner hopes the strong performance could help its plan to issue perpetual bond later in the year.

Korea Air Lines shares ended on Tuesday at 31,700 won, down 450 won, or 1.4 percent, from the previous session.

By Kim Jung-hwan

List

Previous: Hyosung likely to meet annual OP target of 1 tn won

Next: SK Hynix’s Q3 profit beats mkt consensus, up 60% on quarter