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Asiana Airlines reported the following financial highlights for the three months ended 30-Sep-2020:

  • Revenue: KRW731,100 million, -53.2% year-on-year;
  • Operating profit: KRW5800 million, compared to a loss of KRW45,100 million in p-c-p;
  • Net profit: KRW2300 million, compared to a loss of KRW170,500 million in p-c-p.

Asiana Airlines announced its 3rd quarter results on Monday, 16th.

Asiana Airlines recorded sales of KRW 731.3 billion, operating profit of KRW 5.8 billion, and net income of KRW 2.3 billion in the third quarter of 2020 based on separate financial statements based on the International Accounting Standards (K-IFRS).

Asiana Airlines maintained a surplus in the third quarter following the second quarter by overcoming the low international passenger demand due to Corona 19 with high-strength self-reliance efforts and cargo business. As the impact of arrival in Korea from Corona 19 persisted, international passenger sales decreased 83% year-on-year, but cargo sales increased 54% year-on-year.  

In the cargo sector, diagnostic kits, medicines were actively transported, and sales amounted to 484.5 billion won. As a result of the analysis of regions with high demand for cargo as the global cargo, supply shortage continued due to the corona 19, and the introduction of aircraft, sales in the United States and Southeast Asia respectively increased by 64% compared to the same period of the previous year by increasing cargo transportation mainly in the United States and Southeast Asia, which are the main cargo routes. , Up to 79%.  

In addition, the world's first A350 -900 airliner was converted into a freighter to secure an additional supply of 23 tons per unit, and the bunk space located under the B777 -200ER airliner was separated to expand the valley transport space to enhance cargo supply capacity. The year was able to maximize profits. Asiana Airlines has converted the A350-900 passenger aircraft to freighters and two this year, B777 has expanded to three -200ER passenger Valley area. 

In the fourth quarter, which is the peak season for cargo, the company plans to accelerate its cargo transportation business by increasing the utilization rate of cargo planes and actively attracting cargo demand. Asiana Airlines is making full preparations to prepare for the transportation of COVID-19 vaccines and medicines, which are expected to increase in the future, by making standard procedures for vaccine transportation and expanding special container filling facilities at Incheon Cargo Service Terminal. 

Due to the prolonged COVID-19 outbreak, the number of regular international passenger flights decreased by 83% compared to the previous year, but the results improved compared to the previous quarter through efforts such as special charter flights such as Vietnam and China, and special tour product planning for the A380 Round the Peninsula'' . In addition, the long-term maintenance of the aircraft was carried out early, and outsourced maintenance was converted to self-maintenance, resulting in cost savings. 

Asiana Airlines said, “Maintaining the operating surplus in the third quarter is thanks to the employees who actively participated in self-help efforts to overcome the crisis even in a difficult situation.” “In the fourth quarter, we plan to continue making efforts to expand cargo sales and attract corporate charters.

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