Korean Air reported on the 11th that its standalone revenue for the first quarter of this year was provisionally tallied at 3.9559 trillion won, a 3% increase compared to the same period last year. During the same period, operating profit and net income declined by 19% and 44%, respectively, to 350.9 billion won and 193.2 billion won.
Korean Air noted, "Despite the uncertain business environment, revenue increased thanks to active demand acquisition efforts in the passenger and institutional sector segments," adding that "operating costs rose due to increased depreciation and maintenance costs from the introduction of new aircraft, along with rising operational costs due to exchange rate fluctuations, leading to a decrease in operating profit."
Revenue from the passenger business in the first quarter recorded 2.4355 trillion won, a 4% increase compared to the same period last year. Travel demand remained strong due to the early Lunar New Year holiday and March holiday effects.
During the same period, revenue from the cargo business increased by 6% to 1.054 trillion won. Demand increased for e-commerce, electronic products, and automobile parts, along with continued demand for fresh cargo originating from Korea.
The company stated, "We expect passenger business demand to increase starting with the early May holiday, and plan to maximize revenue through discovering new destinations and operating charter flights," adding, "We will analyze the fluctuations in air cargo due to U.S. tariff imposition and respond in a timely manner."