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Asiana Airlines turns to surplus in earnings surpriseBy Shin Ji-hye
Published : Aug. 7, 2020 - 15:06
Asiana Airlines posted an operating profit over 100 billion won ($84 million) in the second quarter, for the first time in six quarters, according to the firm’s regulatory filings Friday.
The nation’s flag carrier said its operating profit was tentatively estimated at 115.1 billion won in the April-June period. Quarterly sales fell 44.7 percent to 818.6 billion won year-on-year. Net profit turned to a surplus of 116.2 billion won.
Similar to Korean Air, the cargo sector led the second-quarter earnings. Sales in the cargo sector reached 639.1 billion won, up 95 percent from the same period last year.
Asiana Airlines has continued its “belly cargo” business, using passenger cargo compartments to transport cargo to cope with international air cargo demand, which has increased in the wake of the pandemic, the carrier said.
Accordingly, sales more than doubled on long-distance routes such as those for the Americas and Europe, compared to the same period last year.
Operating costs, including for labor and fuel, also fell 56 percent year-over-year.
By Shin Ji-hye (firstname.lastname@example.org)
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