Korean Air net profits falls 35% in March quarter

Korean Air’s Q1 net profit fell 35% from 543.85 billion in Q1 of 2022 to 355.42 billion won. The airline released its financial statement for Q1 of 2023 (January – March 2023).  The airline also reported a plunge in its operating profit by 47% to 414.99 billion won from 788.45 billion won a year ago. “Travel demand is recovering amid eased COVID-19 virus curbs. But an increase in operating costs, including higher jet fuel prices, weighed on the quarterly bottom line,” the airline said in a statement. The airline reported a 14% uptick in sales due to rise in travel