Korean Air said yesterday that its first first-quarter operating income dropped 87.1% to KRW19.6 billion ($19.5 million) "owing to the huge pressure from surging fuel costs." "The soaring cost of fuel has become a great challenge for airlines around the world as well as in Korea," President Jonghee Lee said. "[But] the weakening Korean won. . .has boosted Korean exports and inbound cargoes from the US and Europe to China and other Asian countries, and we expect this trend will continue. With ...

Subscribe to Access this Entire Article

"Korean Air's first-quarter operating profit sinks on 'huge pressure' from fuel costs" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.