Robust trading at Korean Air
Korean Air has announced its financial results for the third quarter of financial 2012, posting net income of KRW340 billion for the period.
Despite global external conditions, the airline recorded operating profit of KRW 313 billion for the period ending September 30th, showing a 30.5 per cent increase on the same period in 2011.
International passenger and cargo businesses remained the major revenue contributors for the airline, accounting for 61.7 per cent and 22.6 per cent of the total sales.
Total sales for the two divisions amounted to KRW2.7 trillion for the quarter 2012.
The rising star of the company is, however, the Aerospace Business Division accounting for 3.7 per cent of the revenue but contributing an impressive KRW611 billion sales, an increase of 12 per cent over 2011.
The aerospace division employs 2,726 (as of September 2012) employees in South Korea’s second largest city Busan where it maintains and upgrades both military and civilian aircraft and also manufactures aircraft parts.
The company also has a division based in Daejeon working on the research and development of unmanned aircraft.
Korean Air is considered Asia’s Leading Airline First Class by the World Travel Awards.