Korean Air reports quarterly loss

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Korean Air reports quarterly loss

Postby Greg on Thu Aug 14, 2008 7:49 pm

Korean Air, South Korea’s flagship carrier, on Thursday reported its first quarterly operating loss in five years, after higher fares failed to offset the impact of record fuel costs and slowing demand.

The airline, which is also the world’s largest air cargo carrier, reported a Won116.4bn ($112m) operating loss in the second quarter, the first deficit since Asian airlines were hit by an outbreak of Severe Acute Respiratory Syndrome in 2003.

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