Korean Air net loss widens in Q1

By Nam Kwang-sik
SEOUL, May 7 (Yonhap) -- Korean Air Co., South Korea's biggest carrier, said
Thursday its first-quarter net loss widened in the first quarter from a year
earlier due to increased foreign exchange losses.
Net losses increased to 526.3 billion won (US$416 million) in the January-March
period, compared with a net loss of 326 billion won a year ago, Korean Air said
in a regulatory filing.
The carrier posted 2.26 trillion won in sales in the first quarter, but operating
profit fell 66 percent to $6.6 billion won.
Shares of Korean Air inched up 0.12 percent to 41,900 won as of 11:53 a.m. on the
Seoul bourse.
"A rise in net loss was attributable to the South Korean won's depreciation
against the U.S. dollar," Korean Air said.
ksnam@yna.co.kr
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