Air Transport World

Korean Air.(reports profitable year in 1998)(Brief Article)

Korean Air announced a return to profit after two years of losses. Results showed a net profit of 296.6 billion won ($240 million) for the 1998 financial year, compared to a loss of 397 billion won in the preceding year. Operating profit was 306.4 billion won. Operating revenues rose 7% to 4.6 trillion won from 4.3 trillion in 1997.

Korean Air says the rebound to profitability has come from cost-cutting and tapping into new markets such as Japanese traveling to Korea. …

Log in to your account to read this article – and millions more.