Korean Air lines Co., Ltd. (003490.KS), the flag carrier of South Korea, reported Monday higher profit in its first quarter with strong revenue growth. Sequentially, net income declined with slightly lower revenues.
In South Korea, the shares closed Monday's regular trading 3.04 percent lower at 23,950.00 won.
In the first quarter, net income climbed 25.6 percent to 242.7 billion Korean won from last year's 193.2 billion won. Sequentially, net income fell 14.5 percent.
Operating income for the latest quarter grew 47.3 percent to 516.9 billion won from 350.9 billion won last year.
Revenues increased 14.1 percent to 4.52 trillion won from 3.96 trillion won a year ago. Sequentially, sales edged down 0.8 percent from 4.55 trillion won in the fourth quarter.
Passenger traffic grew 7.3 percent achieved by positive impact of international affairs and demand boom in Japan, and Cargo traffic increased 3.5 percent.
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