Korean Air Q3 profit plunges 67% amid cost surge
Korean Air reported a 67 percent decline in net profit for the July through September quarter as maintenance expenses increased. The flagship carrier earned 91.8 billion won compared with a year earlier, while revenue fell 6 percent to 4 trillion won. Operating profit dropped 39 percent to 376.3 billion won despite lower fuel costs.
Passenger business sales decreased 196.2 billion won to 2.42 trillion won as the Chuseok holiday moved from September to October, and stricter United States entry rules affected travel. Cargo revenue slipped 53.1 billion won to 1.07 trillion won amid global market slowdown and American tariff concerns. Higher aircraft depreciation and airport fees reduced margins even as jet fuel prices fell.
The airline expects better fourth-quarter results from October holiday travel and year-end demand. Management plans to adjust flight capacity based on market shifts while pursuing online commerce, cargo, and premium freight opportunities.
