Asiana Airline swings to profit in Q2, 2023

Asiana Airlines swung to net profit of $1.36 million in the April-June quarter as compared to net loss of 91.5 billion won during the same period of last year. Asiana Airlines’ sales increased by 11.3% year-on-year to 1.57 trillion won, while operating profit sank 48.5 percent on-year to 108.9 billion won. “The decrease in operating profit was mainly attributable to rising costs and increased foreign exchange losses,” the airline said in a regulatory filing. Revenue from passenger travel jumped 112 % on-year to 1.07 trillion won on the back of the lifting of anti-COVID-19 restrictions. But sales of its cargo