Air Transport World

Korean Air.(Asia/Pacific report)(company losses)(Brief Article)

Korean Air lost 241.1 billion won ($206.7 million) in 2003 compared to a profit of 453.8 billion won in 2002. It attributed the loss to increased nonoperating expenses, including a foreign exchange loss of 245 million won taken at year end. "We are not discouraged by the results, because we believe we have the right ingredients for a better 2004," Chairman and CEO Y.H. Cho said. Reflecting the impact of SARS, revenues fell 1.2% to 6.18 trillion won on a 7% drop in international passenger revenue, although KAL said this was offset by strong cargo demand. …

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