SEOUL (dpa-AFX) - Korean Air lines Co., Ltd. (003490.KS) reported Thursday higher net income in its fourth quarter, but pre-tax income declined from last year, despite higher revenues.
Net income climbed 32.4 percent to 284.0 billion Korean won from last year's 251.6 billion won. The company noted that profitability improved by the golden holiday week in October and demand boom in short-haul routes. The results reflected positive effect of Visa-Free policy in China and winter peak season in Japan.
Meanwhile, income before tax fell 18.4 percent to 331.4 billion won from 349.8 billion won a year ago.
Operating income dropped 5.1 percent year-over-year to 413.1 billion won, and operating margin dropped to 9.1 percent from 10.8 percent a year ago.
Revenue, however, climbed 13 percent to 4.55 trillion won from 4.03 trillion won in the prior year.
Passenger traffic grew 9.1 percent to 2.59 trillion won and Cargo traffic increased 2.9 percent to 1.23 trillion won.
Going ahead, the company stated that in 2026 cargo business market remains uncertain due to spread of protectionism and global economic growth slowdown. Uncertainties are still remaining even though tariff risks decreased by US-China trade agreement, the firm noted.
Korean Air added that it proactively forecasts demand increase in first quarter holiday season, Lunar New Year.
In Korea, the shares were losing around 0.43 percent to tradet at 23,000 won.
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