Asiana Airlines swings to Q4 loss on higher costs

By Nam Kwang-sik
SEOUL, Feb. 5 (Yonhap) -- Asiana Airlines Inc., South Korea's second-largest
carrier, said Thursday that it swung to a loss in the fourth quarter of last year
due to increased costs.
Net loss came to 163.3 billion won (US$118.2 million) in the October-December
period, compared with a net profit of 19.2 billion won a year ago, Asiana
Airlines said in a regulatory filing.
Sales rose 11.7 percent on-year to 1.1 trillion won, but the carrier posted an
operating loss of 93 billion won, compared with an operating profit of 27.3
billion won a year earlier.
Asiana Airlines is targeting 4.5 trillion won in sales this year. The company is
also expecting to turn itself around this year if oil prices based on West Texas
Intermediate crude hover around $60 per barrel and the South Korean won remains
around the 1,200 level against the U.S. dollar.
ksnam@yna.co.kr
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