South Korea's largest carrier Korean Air said Thursday its net loss narrowed in the first quarter of this year, as operating profit surged from a year ago thanks to low oil prices.
The consolidated net loss for January to March stood at 133.1 billion won ($122 million), compared with a deficit of 155.8 billion won a year earlier, the airline said.
Sales fell 0.9 percent on-year to 2.87 trillion won, while operating profit jumped almost nine times to 189.9 billion won, helped by lower jet fuel prices and strong passenger demand, it said.
The airline said its fuel costs in the first quarter dropped 23.6 percent from a year ago.
Korean Air shares fell 0.91 percent Thursday to close at 43,650 won, although analysts predicted improved earnings for the rest of the year.
Name (required) *
E-mail (required, but will not be published) *
Notify me of follow-up comments
Edin Dzeko hit his ninth and 10th league goals of the season as Roma stayed in hot pursuit of leaders Juventus with…
The facade of the world's tallest building, the Burj Khalifa in the Gulf emirate of Dubai, was lit up in pink Thursday…
It took just seven days for "Wizard of Oz" nostalgics to raise more than $300,000 in a crowdfunding drive to restore Dorothy's…
Powered and Developed by FilmMatters
Copyright © 2016 Arabtoday