Asiana Airlines mired in the red for first half of 2018
In this article (4)
Asiana Airlines, Korea’s second-biggest airline by sales, said Wednesday it swung to a net loss in the first half as a strong won drove up currency losses and fuel costs.
Asiana Airlines reported it was in the red by 54.8 billion won for the January-June period, shifting from a net profit of 21.3 billion won a year earlier, the company said in a statement.
“The airline suffered 72.6 billion won in foreign exchange losses during the first six months due to the won’s strength against the dollar, swinging from foreign exchange gains worth 63.7 billion won a year ago,” an Asiana spokesman said.
Higher jet fuel prices also weighed on first-half results, he said.
Questions & Answers
Q.What was the airline's financial result for the first six months of 2018?
What was the airline's financial result for the first six months of 2018?
Asiana Airlines reported a net loss of 54.8 billion won for the January-June period. This contrasts with a net profit of 21.3 billion won in the previous year.
Q.What were the main reasons for Asiana Airlines' loss in the first half of 2018?
What were the main reasons for Asiana Airlines' loss in the first half of 2018?
The airline's losses were primarily due to increased currency losses caused by a strong won and higher jet fuel costs. These factors significantly impacted the first-half results.
Q.How did currency fluctuations affect the airline's finances compared to the previous year?
How did currency fluctuations affect the airline's finances compared to the previous year?
A strong won led to foreign exchange losses of 72.6 billion won in the first six months. This is a significant shift from the 63.7 billion won in foreign exchange gains reported a year earlier.
Reader pulse
What's the main concern for Asiana?
24,516 votes so far