Korean Air's Q1 operating profit may soar: analysts

SEOUL, April 13 (Yonhap) -- South Korea's top carrier Korean Air Lines Co. is
expected to have shown a stellar performance in the first quarter of this year
thanks to increased travel demand, a median estimates of analysts showed Tuesday.

The median estimates complied by Yonhap News Agency from nine local analysts said
that Korean Air reaped an operating profit of 221.1 billion won (US$196.7
million) in the January-March period, more than 34-fold gain from a year ago.
During the reported period, the airline's sales rose 13.4 percent from the
previous year to 2.77 trillion won, according to the estimates.
The expected first-quarter operating profit also represented a 44 percent growth
from the previous quarter.
"This year's rise in demand for travel to overseas countries, which sharply
decreased between 2008 and last year, has resulted in shortages of seats in
planes," said Park Eun-gyung, an analyst at Samsung Securities Co. "The South
Korean won's rise against the U.S. dollar is also bolstering the country's
overseas travel demand, with demand for air cargo increasing."
Korean Air plans to announce its first-quarter earnings report on Wednesday morning.
ksnam@yna.co.kr
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