Asiana Airlines Now In Black As Demand Rises

Asiana Airlines Inc., South Korea's second-biggest carrier, said Friday it swung to the black in the second quarter on growing demand for passenger travel, Oh Seok-min reported for Yonhap News Agency.

Photo Insert: Asiana logged a net profit of 1.8 billion won ($1.36 million) in the April-June period of 2023.

Asiana logged a net profit of 1.8 billion won ($1.36 million) in the April-June period of 2023, compared with a net loss of 91.5 billion won during the same period of last year, the company said in a regulatory filing.

Sales rose 11.3% on-year to 1.57 trillion won in the second quarter while operating profit sank 48.5% on-year to 108.9 billion won.

The decrease in operating profit was mainly attributable to rising costs and increased foreign exchange losses, it said. In detail, sales from passenger travel jumped 112% on-year to 1.07 trillion won on the back of the lifting of anti-COVID-19 restrictions.

Sales of its cargo business retreated 54% on-year to 376.5 billion won on falling demand and tough competition in the sector.

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