Korean Air blames trade war for third quarter net lossKorean Air posted a net loss of 211.8 billion won ($181.3 million) in the third quarter mostly due to weak global economy and trade conflicts around the world, the airline said Thursday.
In the third quarter last year, the company had posted 267.8 billion won in net profit. The company’s sales fell 3.7 percent from 3.41 trillion won to 3.28 trillion won in the third quarter.
The airline said its sales declined due to a trade conflict between the United States and China and cost increased due to the weaker won against the dollar and rise in the minimum wage.
By Kim Jee-hee
More in Industry
Samsung affiliates donate ￦50 billion to Community Chest
Logistics companies and contractors hit with big fines
Naver Cloud partners with GS Global to expand overseas operations
Shinsegae Department Store shakes up senior management
Government, mobile carriers agree frequency redistribution price