Overview
- Korean Air reported preliminary first-quarter results with record revenue of 4.52 trillion won, operating profit up 47% to 516.9 billion won, and net profit up 26% to 242.7 billion won.
- Passenger sales rose to 2.61 trillion won on Lunar New Year travel and stronger traffic on European and key transit routes.
- Cargo revenue reached about 1.09 trillion won on expanded long-term contracts and added charter flights on high-demand U.S. lanes.
- The company said higher oil prices and a weaker Korean won linked to Middle East conflict could weigh on second-quarter performance.
- It began companywide cost cuts in April and plans to target overseas-origin and transit passengers and cargo tied to AI and cosmetics to support profitability.