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Recommended #Asiana-2018 earnings

Asiana Airlines suffers loss in 2018 on currency, fuel costs

15:19 February 14, 2019

SEOUL, Feb. 14 (Yonhap) -- Asiana Airlines Inc., South Korea's second-largest airline by sales, said Thursday it posted a net loss last year due to currency-related losses.

The net loss reached 10.4 billion won (US$9.24 million) last year, compared with a profit of 248 billion won a year earlier, the company said.

Operating income fell 35.3 percent on-year to reach 178 billion won, while sales rose 10 percent to a record 6.85 trillion won over the cited period.

The company attributed the weakened bottom line to currency-related losses and increased jet fuel costs.

Its jet fuel costs swelled by 433 billion won last year compared with a year earlier, it said.

Its debt ratio stood at 504.9 percent at the end of last year, down 83 percentage points from a year ago, helped by 1.09 trillion won in debt repayment and proceeds from asset sales.

Asiana A350-900 passenger jet (Yonhap)

sam@yna.co.kr
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