Asiana Airlines achieved a profit in both operating profit and net profit in the second quarter of this year. The expansion of high-profit routes such as those to North America and Japan, along with stable exchange rates, played a significant role. The airline plans to continue increasing high-profit routes and actively target logistics demand in the third quarter.
Asiana Airlines announced on the 13th that its operating profit for the second quarter was 34 billion won, marking a turnaround to profit. In the same period last year, there was an operating loss of 31.2 billion won. The net profit, which reflects all operating revenues, expenses, and taxes, also changed from a loss of 149.2 billion won in the second quarter of last year to a profit of 232.2 billion won in this year's second quarter. Sales amounted to 1.6756 trillion won, a decrease of 3.5% compared to 1.7355 trillion won in the same period last year.
The revenue decline in the second quarter mainly occurred in the cargo business. Due to a decrease in demand caused by tariffs imposed by the U.S. government, it fell to 37.12 billion won, a 13.6% decrease compared to the same period last year. However, passenger business revenue recorded 111.76 billion won due to increased holiday demand in May and June, expanded services to New York and Hawaii, new flights to Prague in Europe, and the implementation of visa-free entry for China.
Regarding the operating profit for the second quarter, Asiana Airlines explained that the efforts to improve profitability through operational efficiencies, including the expansion of high-profit routes such as those to North America and Japan, increased flexible supplies in response to holiday demand, and improved aircraft operating times were effective.
The net profit was significantly influenced by the improvement in performance and the stability of exchange rates. Thanks to the turnaround to profit and a decrease in exchange rates, the debt ratio decreased from 1,238% at the end of last year to 827% by the end of the first half of this year. This is the first time in seven years that Asiana Airlines' debt ratio has fallen below 1,000%.
Asiana Airlines plans to expand its supply on preferred summer routes, including the route to New York in the U.S. and Sapporo in Japan for the third quarter. The airline aims to enhance customer benefits by resuming weekly flights to Bangkok, Thailand, and Phuket, and actively expanding revenue routes such as irregular flights to Ube in Japan and Ulaanbaatar in Mongolia. Additionally, it plans to target logistics demand that requires timeliness and urgency, including semiconductor parts, fresh produce, and small express cargo.