Asiana Airlines returns to profit with 156.5 billion won net in 2022

Asiana Airlines' A321NEO [ASIANA AIRLINES]

Asiana Airlines reported a net profit of 156.5 billion won ($121.74 million) for 2022, its first year in positive territory since 2018.

The 2022 net profit of Asiana, Korea’s second-largest airline company, beat analyst expectations of a 384 billion won loss as compiled by Company Wise.

According to its earnings report released Thursday afternoon, the carrier reported 5.63 trillion won in sales, up 37.3 percent from, falling short of the market forecast of 6.27 trillion won. Of the business revenue, passenger operations sales increased 270 percent year-on-year to 2.25 trillion won, while cargo shortly fell 5 percent year-on-year to 2.99 trillion won.

Operating profit reached a fresh high of 741.6 billion won, up 62.7 percent on year, on continuing cargo demand as well as on the improvement of passenger traffic amid eased pandemic restrictions, Asiana said. Analysts expected 622 billion-won of operating profit.

Asiana Airlines has resumed flights to Japan and mainland China, as well as to major European cities, including Barcelona, Istanbul and Rome.

A350s and A330s converted cargo planes were restored to increase seat supply.

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]