Korean Air reports an operating profit of $410 million for Q422

Korean Air reported an operating profit of $410.4 million, about 26% decrease year-on-year in the fourth quarter (Q4) of 2022. The airline recently released a report of its financial transactions in Q4. The airline achieved a revenue to $2.846bn, a 28% Y-O-Y increase following the recovery in passenger demand and steady cargo profit. The airline’s Q4 passenger revenue rose 339% year-on-year to KRW 1.6648 trillion, with growing air travel demand with Japan’s revised border measures and seasonal peak. The airline reported an increase in passenger revenue over cargo revenue, as the cargo revenue fell 29% year-on-year to KRW 1.5483 trillion.