Korean Air announced on the 15th that it achieved record-breaking third-quarter revenue, driven by surging demand for Korean Air 3rd quarter revenue and semiconductor cargo. The airline’s revenue for the third quarter reached 5.0448 trillion won, marking a 25.9% increase compared to the same period last year and setting a new all-time high for a single quarter. Operating profit rose 11.9% year-on-year to 421.2 billion won. However, the operating profit margin stood at 8.3%, down slightly from 9.4% in the third quarter of last year.
Cargo Business Drives Record Performance
The cargo business served as the primary growth engine. With high demand for AI and semiconductor-related high-value cargo, third-quarter cargo revenue hit 1.4323 trillion won. This represents a 34.3% jump from the previous year, outperforming the passenger revenue growth rate of 20.5%. A Korean Air representative stated, “We improved profitability by securing stable demand for high-value cargo while flexibly adjusting capacity to match regional market conditions.”
Strong Passenger Demand Despite Headwinds
The passenger business also showed robust performance. Third-quarter passenger revenue recorded 2.9174 trillion won, an increase of 4.963 billion won year-on-year. Although outbound passenger demand from South Korea decreased due to fuel surcharges and a weak Korean won, inbound travel from overseas and transfer traffic through Incheon Airport increased significantly. Expanding flight capacity centered on Americas and Japan routes during the summer peak season also contributed to the positive results.
Outlook for the Fourth Quarter
Looking ahead, Korean Air plans to maintain its flexible operational strategy. “We expect AI and semiconductor-related air cargo demand to continue into the fourth quarter, which is traditionally peak season for air cargo, and we will adjust capacity accordingly,” the official added. “In the passenger sector, we will focus on improving profitability centered on inbound international travel and Incheon transfer demand.”
