Asiana Airlines said on the 13th that it swung to a loss in the third quarter this year, posting a loss of 175.7 billion won, compared with the same period a year earlier.
Revenue for the same period fell 22.1% to 1.4643 trillion won. Net income swung to a loss of 304.3 billion won.
Asiana Airlines explained that the main reason for the revenue decline was the impact of the partitioning and sale of the cargo aircraft business in August, adding that passenger revenue fell 9% from a year earlier while cargo revenue dropped 66%.
It said the swing to a loss was due to one-off expenses, including the temporary reflection of the increase in retirement benefit provision resulting from changes in ordinary wages and payment of retroactive increases in handling charges, as well as higher maintenance and operating expenses caused by the rise in the exchange rate.
An Asiana Airlines official said, "We plan to focus on improving performance by expanding capacity to winter peak destinations and actively attracting demand for visa-free visits to China," adding, "We will also actively seek to attract belly cargo demand for semiconductor parts and biohealth."