Korean Air’s third-quarter net income rises tenfold as stronger won adds to demand gains
Preliminary results show Korean Air’s third-quarter net income rose more than tenfold, helped by a stronger won alongside passenger and cargo demand; revenue reached a quarterly record.
Korean Air said on 15 October that preliminary results for July through September showed net income of 929.7 billion won, more than ten times the 91.9 billion won recorded a year earlier. The South Korean airline’s quarterly revenue reached a record 5.04 trillion won. Yonhap News Agency and The Korea Herald reported that a stronger won, alongside passenger and cargo demand, contributed to the profit increase.
Passenger and cargo revenue at Korean Air
Revenue rose 26% from the same quarter last year, while operating profit increased 12% to 421.2 billion won, according to Yonhap and the Herald. Yonhap described the preliminary results as nonconsolidated.
Yonhap put passenger revenue at 2.91 trillion won, up 496.3 billion won from a year earlier. The Korea Herald reported a slightly different total of 2.92 trillion won. Yonhap attributed the passenger gain to strong inbound travel to South Korea.
The Herald reported that higher fuel surcharges and a weak won dampened outbound travel, while inbound visitors and passengers transferring through Incheon offset that decline. It also said Korean Air added summer capacity on routes to the United States and Japan.
Cargo revenue reached 1.43 trillion won, an increase of 365.6 billion won, the two reports said. Yonhap linked the growth to shipments of high-value goods, including semiconductors and AI-related products; the Herald also cited steady semiconductor demand.
Korean Air’s fourth-quarter fuel-cost outlook
For the first nine months of the year, Korean Air’s revenue rose 22% to 14.58 trillion won and operating profit rose 7% to 1.2 trillion won, the Herald reported.
Korean Air said the prolonged Middle East conflict could keep fuel costs high in the fourth quarter. According to the Herald, the airline plans to pursue passenger earnings from inbound and transit demand and manage cargo capacity during the peak season, citing demand tied to AI and semiconductors. Yonhap reported that rising fuel costs are expected to pressure the passenger business.
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Sources and context
- Korean Air's Q3 net profit jumps tenfold on strong passenger, cargo demandYonhap News Agency
- Korean Air posts record quarterly revenue in Q3The Korea Herald
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