Korean Air Racks up Record Quarterly Sales Despite Scandals
14 November, 2018
Korean Air's sales hit a record in the third quarter of this year thanks to an increase in overseas travelers despite mushrooming scandals surrounding the owner family. Operating profit has also been hitting records for 13 consecutive quarters amid rising oil prices.
The flag carrier on Tuesday said sales increased 9.1 percent from the same period last year to W3.41 trillion and operating profit stood at W392.8 billion, up 3.7 percent on-year (US$1=W1,134).
The increase was driven by long-haul routes to the U.S. and Europe. Ticket sales for Europe increased by 12.7 percent and for U.S. routes 5.3 percent on-year.
Korean Air said it saw an increase in demand for transit flights to the U.S and business-class seats since May, when it launched a joint venture with Delta Air Lines.
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