Asiana Airlines cut its full-year loss in 2020 and managed to recover to profitability in the fourth quarter, despite the continuing impact of the coronavirus pandemic.
The South Korean carrier reported an operating loss of 70.3 billion watts ($ 63.5 million) for the full year, down from a loss of 487 billion watts in 2019. Operating profit in the fourth quarter was 17 billion watts, reflecting a loss. It reached $ 323 billion in 2019. Fourth quarter of 2019.
On the net level, his loss is minimized as well. The company reported an annual net loss of 265 billion won last year, compared to a net loss of 763 billion won in 2019. In the fourth quarter of 2020, Asiana posted a net profit of 166 billion won, reflecting a net loss of 325 billion won. Won in the fourth quarter of 2019.
Annual revenue decreased 40% to 3.56 trillion won compared to 2019, while fourth-quarter revenue decreased 39% to 881 billion won.
Asiana said in a February 16 press release that the airline’s freight division has offset the “slow” passenger demand. Shipping sales increased 64% from the previous year to 2.14 trillion won.
The Seoul-based airline has also used its "geographic advantage" to focus on flights to move personal protective equipment produced in China and Southeast Asia to the Americas and Europe. It also benefited from the transportation of electronic products, which were in greater demand due to the "spread of remote culture."
In addition, non-scheduled flights have been added to routes in the United States, where freight demand is high, which has increased US road sales by 86%.
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