Photo: Korean Air
Korean Air has announced a revenue of KRW 3.9559 trillion (USD 2.6975 billion) for the first quarter of 2025, reflecting a 3% year-on-year increase. This growth was driven by strong demand across both passenger and cargo sectors, despite the uncertainties...
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Korean Air has announced a revenue of KRW 3.9559 trillion (USD 2.6975 billion) for the first quarter of 2025, reflecting a 3% year-on-year increase. This growth was driven by strong demand across both passenger and cargo sectors, despite the uncertainties in the business environment. However, the airline’s operating profit for the quarter decreased by 19% year-on-year, reaching KRW 350.9 billion (USD 239.3 million). The decline was mainly due to higher operating costs associated with the depreciation and maintenance of newly introduced aircraft, along with increased operating unit costs driven by currency fluctuations.
The rise in operating costs was primarily linked to the addition of new aircraft, which had been delayed due to the pandemic. These aircraft are part of Korean Air's long-term strategy to increase capacity and enhance service quality. By integrating these new aircraft into its fleet, the airline aims to expand its global network, improve the passenger experience, and enhance overall profitability.
The passenger division generated KRW 2.4355 trillion in revenue during the first quarter, marking a 4% year-on-year increase. Strong demand for travel during the Lunar New Year and March holiday period helped offset the effects of increased competition and market capacity, as well as various domestic and international uncertainties, driving both revenue and traffic growth.
Meanwhile, Korean Air's cargo division saw a 6% year-on-year increase in first-quarter revenue, totalling KRW 1.0540 trillion. Despite challenges, including U.S. tariff policies, robust demand remained in key sectors such as e-commerce, electronics, automotive parts, and fresh exports from Korea. The airline bolstered its cargo performance through strategic capacity adjustments and efforts to secure long-term demand from major clients.
Looking ahead, Korean Air expects continued growth in the passenger business for the second quarter, supported by strong travel demand during the early May holidays. The airline anticipates strong performance on outbound routes to Southeast Asia, China, and Japan. In addition, it plans to expand its charter flight operations and explore new destinations to optimise profitability. In the cargo sector, Korean Air will closely monitor changes in U.S. trade policies and remain agile in its response to maintain operational flexibility and ensure revenue stability.
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