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Korean Air’s tentative financial results for Q4 2022 (Non-consolidated)

The airline’s Q4 passenger revenue rose 339% year-on-year to KRW 1.6648 trillion, fueled by growing air travel demand with Japan’s revised border measures and seasonal peak Southeast Asia and Oceanic demand.

SEOUL – Korean Air achieved a fourth fiscal quarter revenue of KRW 3.6068 trillion (USD 2.846 billion), a 28% year-on-year increase, following the recovery in passenger demand and steady cargo profit. The airline recorded an operating profit of KRW 520.1 billion (USD 410.4 million), a 26% decrease year-on-year.

The airline’s Q4 passenger revenue rose 339% year-on-year to KRW 1.6648 trillion, fueled by growing air travel demand with Japan’s revised border measures and seasonal peak Southeast Asia and Oceanic demand. Passenger revenue exceeded cargo revenue, a sign of a full-fledged passenger demand recovery phase.

The airline expects passenger traffic demand to continue to increase gradually in Q1, and will focus on normalization of its passenger business by monitoring and effectively responding to market trends.

To tackle uncertainties in post-pandemic 2023, Korean Air will be prepared to face business environment changes, and also strengthen its foundation for mid- to long-term growth for acquisition of Asiana Airlines.

Q4 2022 Results (Non-consolidated
* Unit: KRW billion (USD million)
KRW/USD exchange rate: 1267.3

Q4 2022

Q4 2021

Remarks

Revenue

3,606.8

(2,846)

2,825.9

(2,229.9)

+28% YoY

Operating Profit

520.1

(410.4)

704.4

(555.8)

-26% YoY

Net Income

354

(279.3)

403.5

(318.4)

-12% YoY

2022 Full Year Results (Non-consolidated) 
* Unit: KRW billion (USD million)
KRW/USD exchange rate: 1267.3

구  분

2022

2021

Remarks

Revenue

13,412.7

(10,583.7)

8,753.4

(6,907.1)

+53% YoY

Operating Profit

2,883.6

(2,275.4)

1,464.4

(1,155.5)

+97% YoY

Net Income

1,779.6

(1,404.2)

638.7

(504)

+179% YoY

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