Air, Business, Freight News

Korean Air Shows Profit Again

[ September 17, 2021   //   Gary G Burrows ]

Korean Air recorded an operating profit for a fifth consecutive quarter thanks to its efforts to boost cargo operations and reduce costs. Compared to Q2 2020, revenue increased 16% and operating profit rose by 31%.
The cargo business achieved the highest revenue in the airline’s history. Its strong performance can be attributed to the increase in company restocking demands in preparation for the economy’s recovery and rise in emergency supply shipments due a capacity shortage in the shipping industry. In addition, a lack of passenger flight belly cargo capacity due to the slow recovery of the passenger market led freight rates to remain high.

Tags: Korean Air