PROFITS SMALLER THAN EXPECTED AT KOREAN AIR LINES

Korean Air Lines has posted a smaller-than-expected operating profit. The airline earned an operating profit of 189 billion won ($168.9 million) in the quarter ended December. This was substantially less than the 253 billion won forecasted but still up on the operating profit of 154 billion won posted in the same quarter a year ago. The airline blames heightened geopolitical risks and higher fuel costs for the decline but states it is still on target to post a strong full-year target on expected growth in both passenger and cargo traffic demand.