S.Korean flag carrier's earnings surge in Q2

SEOUL, Aug. 4 (Xinhua) -- Korean Air, South Korea's national flag carrier, saw its earnings surge in the second quarter due to a gradual recovery in passenger demand and robust cargo demand, the company said Thursday.

Revenue jumped 71 percent from a year earlier to 3.33 trillion won (2.5 billion U.S. dollars) in the April-June quarter.

Operating profit soared 274 percent to 735.9 billion won (561.8 million U.S. dollars), and net income expanded 246 percent to 450.4 billion won (343.8 million U.S. dollars). Passenger revenue more than quadrupled on borders reopening and growing travel demand.

Cargo revenue spiked 44 percent to 2.17 trillion won (1.7 billion U.S. dollars) in the second quarter on high transport demand for semiconductors, auto parts, and electronics.

The airline expected passenger traffic to recover slower than forecast in the second half amid lingering uncertainties such as the COVID-19 pandemic and high oil prices.

The company said it will gradually increase its passenger network capacity to 50 percent of the pre-pandemic levels by September.