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[Alpha Biz=(Chicago) Reporter Kim Jisun] Korean Air announced on the 30th that its annual operating profit last year was 1.5869 trillion won, down 45% from a year ago. Operating profit in the fourth quarter of last year also fell 64.7% year-on-year to 183.6 billion won.
However, last year's sales reached a record high of both annual (14.5751 trillion won) and fourth quarter (3.9801 trillion won).
The Korean Air explained that the reason for the poor performance is that the cargo volume, which had been concentrated during the COVID-19 pandemic, was dispersed back to shipping and other areas. In 2019, just before the outbreak of COVID-19, Korean Air posted an operating profit of 204.6 billion won.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
