Korean Air blames trade war for third quarter net loss

Home > Business > Industry

print dictionary print

Korean Air blames trade war for third quarter net loss

Korean 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

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now