Asiana reports earnings shock with unexpected quarterly loss
Asiana Airlines reported a net loss of 172.3 billion won ($130 million) in the third quarter, compared to a net loss of 208.4 billion won in the same period the previous year.
The figure fell short of the analyst expectations of a 13-billion-won net profit compiled on FnGuide.
The carrier reported revenue of 1.5 trillion won, up 47.2 percent on year but falling short of a 1.7-trillion-won estimate.
Asiana Airlines said sales from its passenger flight business helped, jumping 326 percent on year to 742.2 billion won as international travel demand rebounds.
Sales from its cargo business fell 9.8 percent on year to 680.2 billion won, with less demand for transport due to inflation and falling ocean freight rates.
BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]
with the Korea JoongAng Daily
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