hankyoreh

Despite a severe shortage of passenger flights amid the COVID-19 pandemic, Korean Air managed to avoid losses in the second quarter of 2020 by transporting cargo. Among the airlines who have published their second quarter profits, Korean Air is the only one to have avoided a net loss. According to stats released on Aug. 6, the airline’s operating profits from April to June amounted to 148.5 billion won (US$125.3 million), although its year on year sales declined 44%. However, Korean Air actually recorded a net loss of 380.8 billion won (US$321 million) during the second quarter of 2019, indicating the potential of the freight industry as a source of salvation. Korean Air’s revenue passenger kilometers (RPK) declined 92.2% compared to the second quarter of 2019, but its freight ton kilometer (FTK) increased by 17.3% for the same period.