Asiana Airlines swings to net on demand, low fuel prices

Asiana Airlines made a turnaround in net profit in the third quarter, boosted by lower fuel prices and demand.

The airliner posted a net profit of 152.6 billion won ($133.5 million), turning around from a loss of 62.2 billion won in the third quarter last year. It posted 1.56 trillion won in revenue, a 9.4 percent year on year increase and 151.6 billion won in operating profit, a 233 percent jump.

Low oil prices from July to September resulted in higher profit. Also, the company’s efforts to pull down its debt-to-equity ratio and increase financial stability improved its profitability, the company said in a statement Monday.

Demand for flights during Chuseok (harvest festival) also boosted the airline, and the exchange rate was favorable for local customers to travel abroad.