Asiana Airlines' sales hit record high last year...operating profit halved due to drop in freight rates

Asiana Airlines announced on the 15th that based on its separate financial statements last year, its sales were 6,532.1 billion won (approximately 736.3 billion yen), operating income was 400.7 billion won (approximately 45.1 billion yen), and net income was 23.9 billion won.
announced preliminary results of ¥2.7 billion (approximately ¥2.7 billion). Sales increased by 16% year-on-year, setting a new record high, but operating income decreased by 45.4% as the air cargo market, which had been in short supply, normalized.
Ta. The previous highest annual sales was 6.2012 trillion won (approximately 698.8 billion yen) in 2018.
Fourth quarter (October-December) sales were 1,781.7 billion won, operating income was 72.
The company maintained an operating profit of 500 million won for 11 consecutive quarters. Net profit was 115.2 billion won, turning a profit for the first time in one quarter. Sales growth is due to the endemic COVID-19 virus infection.
This was due to a recovery in international passenger demand due to the shift to a pandemic (an epidemic that repeats over a certain period of time). Asiana Airlines expanded its international flight operations, focusing on routes to the Americas, and also operated many non-scheduled flights. Japan route
The airline also expanded its supply by increasing the number of medium- and large-sized aircraft and opening routes to small cities. Revenue from the passenger business was 4.2892 trillion won, an increase of about 90% from the previous year.
On the other hand, the cargo business was sluggish. The air cargo market is oversupplied and freight rates have fallen.
. Cargo business sales decreased by about 46% from the previous year to 1,607.1 billion won. Asiana Airlines is expected to face intensifying competition in the global aviation market and uncertainty in the external environment this year as well. the company
``We plan to respond by anticipating new tourism demand and efficiently operating aircraft,'' said an official at the company.