Korean Air produced a consolidated net profit of KRW559 billion ($500.3 million) for the first quarter of 2017, reversing a loss of KRW175 billion in the year-ago period. The Seoul-based carrier’s consolidated first-quarter revenue totaled KRW2.9 trillion, down KRW1 million from the airline’s 1Q2016 sales. Operating expenses came to KRW2.7 billion, up 5.1% year-over-year (YOY) as fuel and labor expenses rose by 24% and 17% YOY, respectively. Korean’s operating profit ...

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