| Korean Air's Quarterly Profit Plunges |
Korean on Thursday reported an 85.7 percent slump its quarterly profit, hit by higher oil prices and after a December strike by its unionized pilots.
Korean Air, the world's top air cargo carrier in 2004, earned KRW31.3 billion won (USD$32.3 million) in net profit in the fourth quarter of 2005, according to Reuters calculations.
That compared with a KRW218.7 billion (USD$225.6 million) profit reported a year earlier and a KRW154.2 billion (USD$159 million) profit in the previous quarter.
But a smoother path is seen for the carrier this year as a soaring won currency cuts the cost of fuel imports and the expense of servicing foreign currency debt. Growing passenger traffic and higher cargo shipments should also improve the outlook, analysts said.
|
| Posted on Thursday, January 26 @ 09:19:03 PST by akzah |
|
| |
| :: Article Rating |
Average Score: 0
Votes: 0
|
|
|
